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) $42 million
B) $66 million
C) $54 million
D) $30 million
Correct Answer:
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