Problem $15-1$ Corporate Voting

The shareholders of the Pineapple Company need to elect seven new directors. There

are $880,000$ shares outstanding currently trading at $$48$ per share. You would like to

serve on the board of directors; unfortunately, no one else will be voting for you.

a$.$ How much will it cost you to be certain that you can be elected if the company uses

straight voting? $($Do not round intermediate calculations and enter your answer in

dollars, not millions of dollars, rounded to the nearest whole number, e$.$g$.,$

$1,234,567.)$

b$.$ How much will it cost you if the company uses cumulative voting? $($Do not round

intermediate calculations and enter your answer in dollars, not millions of dollars,

rounded to the nearest whole number, e$.$g$.,1,234,567.)$