Question
Betsy Ross owns 957 shares in the Hanson Fabrics Company. There are 12 directors to be elected, and 38,500 shares outstanding. The firm has adopted
Betsy Ross owns 957 shares in the Hanson Fabrics Company. There are 12 directors to be elected, and 38,500 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.)
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b. How many votes does Betsy control? (Do not round intermediate calculations and round your answer to the nearest whole number.)
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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.)
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American Public School Finance
Authors: William A. Owings, Leslie S. Kaplan
3rd Edition
113849996X, 978-1138499966
