Question: Assume that Pine & Cedar Inc. has the ownership structure described in the cap table below: The company needs additional capital, and is seeking funding

Assume that Pine \\& Cedar Inc. has the ownership structure described in the cap table below: The company needs additional capital, and is seeking funding in a Series B round of financing. An outsider investor is willing to invest \$ \\$ 12 \$ million at \$ \\$ 0.75 \$ per share. Assuming the Series A investor's convertible shares carry a full ratchet PROVISION, answer the following question: 1) What is the percentage ownership of the Series A investor after the Series B round of financing? ENTER YOUR ANSWER AS percentage and two decimals

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