17 quiz)

Midland Petroleum is holding a stockholders meeting next month. Ms. Ramsey is the president of the company and has the support of the existing board of directors. All 12 members of the board are up for reelection. Mr. Clark is a dissident stockholder. He controls proxies for 58,001 shares. Ms. Ramsey and her friends on the board control 68,001 shares. Other stockholders, whose loyalties are unknown, will be voting the remaining 24,998 shares. The company uses cumulative voting.

a. How many directors can Mr. Clark be sure of electing?

Note: Do not round intermediate calculations. Round down your answer to the nearest whole number.

b. How many directors can Ms. Ramsey and her friends be sure of electing?

Note: Do not round intermediate calculations. Round down your answer to the nearest whole number.