only need 11

10. Voting Rights [ LO3] After successfully completing your corporate finance class, you feel the next challenge ahead is to serve on the board of directors of Cornwall Enterprises. Unfortunately, you will be the only person voting for you. If the company has 720,000 shares outstanding, and the stock currently sells for $48, how much will it cost you to buy a seat if the company uses straight voting? 11. Voting Rights [ LO3] In the previous problem, assume that the company uses cumulative voting, and there are four seats in the current election. How much will it cost you to buy a seat now