7. Voting for Directors. The shareholders of the Pickwick Paper Company need to elect five directors. There are 400,000 shares outstanding. How many shares do you need to own to ensure that you can elect at least one director if the company has

a. majority voting? (LO3)

b. cumulative voting? (LO3) (Hint: How many votes in total will be cast? How many votes are required to ensure that at least one-fifth of votes are cast for your choice?)