Suppose a firm has 50 million shares of common stock outstanding and eight candidates are up for

Question:

Suppose a firm has 50 million shares of common stock outstanding and eight candidates are up for election to six seats on the board of directors. (LG 8-1)

a. If the firm uses cumulative voting to elect its board, what is the minimum number of votes needed to ensure election to the board?

b. If the firm uses straight voting to elect its board, what is the minimum number of votes needed to ensure election to the board? LO.1

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Ali Khawaja

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