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Mr. R.C. Cola owns 7,001 shares of Softdrinks, Inc. there are 10 seats on the company board of directors, and the company has a total
Mr. R.C. Cola owns 7,001 shares of Softdrinks, Inc. there are 10 seats on the company board of directors, and the company has a total of 77,000 shares outstanding. Softdrinks, Inc., utilizes cumulative voting. Can Mr. Cola elect himself to the board when the vote to elect 10 directors is held next week? (Use formula 17-2 on page 538 to determine if he can elect one director.)
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