You have purchased 1 million shares in a restaurant chain venture. At this zero-stage investment, your companys assets are $160,000 plus the idea for your new product.

Suppose that when you first approach your friendly VC, he decides that your shares are worth only $0.70 each.

1. How many shares will you need to sell to raise the additional $917,000?

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

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

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