Question
Betsy Ross owns 942 shares in the Hanson Fabrics Company. There are 13 directors to be elected. There are 36,000 shares outstanding. The firm has
| Betsy Ross owns 942 shares in the Hanson Fabrics Company. There are 13 directors to be elected. There are 36,000 shares outstanding. The firm has adopted cumulative voting. |
| a. | How many total votes can be cast? (Do not round intermediate calculations and round your answer to the nearest whole number.) |
| Total votes |
| b. | How many votes does Betsy control? (Do not round intermediate calculations and round your answer to the nearest whole number.) |
| Votes |
| c. | What percentage of the total votes does she control? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) |
| Percentage of votes | % |
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Practical Financial Management
Authors: William R. Lasher
4th Edition
0324260768, 9780324260762
