b. Given that the founders' shares are based on the value added to the initial investment, cal- culate the number and value of the founders' shares at the various levels of debt. (Figure 2 has been provided to help you answer this question.) c. Given the stock is zero-par and the founders paid nothing for their stock, should the investors paying $12.35 feel cheated? Explain. Should the SEC protect investors from the founders issuing themselves excessive numbers of shares