You have purchased $1$ million shares in a restaurant chain venture. At this zero$-$stage investment, your company's assets are $$100,000$

plus the idea for your new product. Suppose that when you first approach your friendly VC$,$ he decides that your shares are worth only

$$0\mathrm{.}40$ each.

a$.$ How many shares will you need to sell to raise the additional $$500,000?$

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.