Diamond Drill Inc

Multiple Choice

Diamond Drill Inc. has 150,000 shares and 15,000 warrants outstanding. A warrant holder can purchase a new share of stock for five warrants and $5.00 per warrant. The stock is currently selling for $27 per share.
-Refer to the above scenario.If all warrants are exercised, what will your fraction of ownership be if you owned 20,000 shares originally?

A) 12.12%
B) 13.07%
C) 13.33%
D) 14.04%
E) Without knowing the exercise price the percent can not be determined.