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h. What will be the new purchase price for the existing stockholders? 4. Mr. Meyers wishes to know how many shares are necessary to elect 5 direc- tors out of 14 directors up for election in the Austin Power Company. There are 150,000 shares outstanding. (Use Formula 17-1 to determine the answer.) Dr. Phil wishes to know how many shares are necessary to elect 6 directors out of 14 directors up for election for the board of the Winfrey Publishing Com- pany. There are 340,000 shares outstanding. (Use Formula 17-1 to determine the answer.) Carl Hubbell owns 6,001 shares of the Piston Corp. There are 12 seats on the company board of directors, and the company has a total of 78,000 shares of stock outstanding. The Piston Corp. utilizes cumulative voting. 5. 6. Can Mr. Hubbell elect himself to the board when the vote to elect 12 direc- tors is held next week? (Use Formula 17-2 to determine if he can elect one director.) Betsy Ross owns 927 shares in the Hanson Fabrics Company. There are 15 7. directors to be elected, and 33,500 shares are outstanding. The firm has adopted cumulative voting. a. How many total votes can be cast? How many votes does Betsy control? What percentage of the total votes does she control? Beasley Corporation has been experiencing declining earnings but has just c. 8. The