Problem $14-5$ Venture capital

Ethelbert.com is a young software company owned by two entrepreneurs. It currently needs to raise $$420,000$ to support its

expansion plans. A venture capitalist is prepared to provide the cash in return for a $40\%$ holding in the company. Under the plans for

the investment, the venture capital will hold $10,000$ shares in the company, and the two entrepreneurs will have combined holdings of

$15,000$ shares.

a$.$ What is the total after$-$the$-$money valuation of the firm?

b$.$ What value is the venture capitalist placing on each share?

Note: Round your answer to the nearest whole number.

a$.$ Post$-$money valuation

b$.$ Price per share