Problem 153 Cumulative Voting The shareholders of Solar Power Corporation need to elect five new directors to the board. There are 15.2 million shares of common stock outstanding and the current share price is $16.85. If the company uses cumulative voting procedures, how much will it cost to guarantee yourself one seat on the board of directors? (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.)