The founder of a company currently holds 12 million of the 15 million shares in that company.She considers an IPO where she sells a mix of primary shares and 2 million of her own secondary shares for $18 per share.If she wants to retain a 60% ownership of the company,how much money can she raise in this IPO?
A) $30 million
B) $36 million
C) $42 million
D) $54 million
E) $66 million
Correct Answer:
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David founds
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