Question
An election is being held to fill three seats on the board of directors of a firm in which you hold stock. The company has
An election is being held to fill three seats on the board of directors of a firm in which you hold stock. The company has 7,900 shares outstanding. If the election is conducted under cumulative voting and you own 400 shares, how many more shares must you buy to be assured of earning a seat on the board? (Do not round intermediate calculations.)
| New shares to purchase | shares |
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Case Studies in Finance Managing for Corporate Value Creation
Authors: Robert F. Bruner, Kenneth Eades, Michael Schill
7th edition
007786171X, 77861711, 978-0077861711
