14. Using the following information, please answer the questions about Surelock Homes, a startup company. In your analysis, assume the page 384 valuation date is the end of year 6, projected earnings in year 6 will be $12 million, and an appropriate price-to-earnings ratio for valuing these earnings is 20 times. Financing Round Amount in millions $6 8 1 2 3 12 Year 0 2 4 Required Return 60% 40% 30% In addition, the company wants to reserve 15 percent of the shares outstanding at time 6 for employee bonuses and options. a. What percentage ownership at time 0 should round 1 investors demand for their $6 million investment? b. If Surelock presently has 1 million shares outstanding, how many shares should round 1 investors demand at time 0? c. What is the implied price per share of Surelock stock at time 0?

Question 4 Listen Which of the following points are on the unit circle? Select all that apply. A (--) B (33.3) C 12 (1/13. 31/3)