You have purchased $1$ million shares in a restaurant chain venture. At this zero$-$stage investment, your company$$s assets are $$150,000$ plus the idea for your new product.

Suppose that when you first approach your friendly VC$,$ he decides that your shares are worth only $$1\mathrm{.}20$ each.

How many shares will you need to sell to raise the additional $$1,692,000?$

Note: Enter your answer in whole numbers, not in millions.

What fraction of the firm will you own after the VC investment?You have purchased $1$ million shares in a restaurant chain venture. At this zero$-$stage investment, your company's assets are $$150,000$

plus the idea for your new product.

Suppose that when you first approach your friendly VC$,$ he decides that your shares are worth only $$1\mathrm{.}20$ each.

a$.$ How many shares will you need to sell to raise the additional $$1,692,000?$

Note: Enter your answer in whole numbers, not in millions.

b$.$ What fraction of the firm will you own after the VC investment?

Note: Enter your answer as a percent rounded to $1$ decimal place.