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Boston Fishery has been experiencing declining earnings but has just announced a 50 percent salary increase for its top executives. A dissident group of shareholders

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Boston Fishery has been experiencing declining earnings but has just announced a 50 percent salary increase for its top executives. A dissident group of shareholders wants to oust the existing board of directors. There are currently 13 directors and 32.000 shares of stock outstanding, Mr Bass, the president of the company, has the full support of the existing board. The dissident shareholders control proxies for 14,001 shares. Mr. Bass is worried about losing his job. 0-1. Under cumulative voting procedures, how many directors can the dissident shareholders elect with the proves they now hold? (Round down the final answer to the nearest whole number.) Number of directors 3-2. How many directors could they elect under majority rule with these proxies? 11 o One OTWO O Three Four None b. How many shares (or proxies) are needed to elect seven directors under cumulative voting? Number of shares O

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