You have purchased 1 million shares in a restaurant chain venture. At this zero-stage investment, your companys assets are $130,000 plus the idea for your new product.

Suppose that when you first approach your friendly VC, he decides that your shares are worth only $1.10 each.

How many shares will you need to sell to raise the additional $1,529,000?

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

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

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