Rust Pipe Co. was established in 1994. Four years later the company went public. At that time, Robert Rust, the original owner, decided to establish two classes of stock. The first represents Class A founders' stock and is entitled to eleven votes per share. The normally traded common stock, designated as Class B, is entitled to one vote per share. In late 2010, Mr. Stone, an investor, was considering purchasing shares in Rust Pipe Co. While he knew the existence of founders shares were not often present in other companies, he decided to buy the shares anyway because of a new technology Rust Pipe had developed to improve the flow of liquids through pipes.

Of the 2,150,000 total shares currently outstanding, the original founder's family owns 53,225 shares.

What is the percentage of the founder's family votes to Class B votes? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)

Ch. 16-18 Math Homework Guestion 5 for 8) 5.00 points Rust Pipe Co was established in 1994 Four years later the company went public At that time, Robert Rust, the onginal owner, decided to establish two dlasses of stock The firs represents Ciass A founders' stock and is entitled to eleven votes per share deslignated as Class B, is enttied to one wote per share In20, Mr. Stone, an investor was considenng purchasing shares In Rus: Pipe Co. Whle he knew the existence of founders' shares were not aften present in other companies, he decided to new technology Rust Pipe had developed to improve the tlow of liquids through pipes. Of the 2,150,000 total shares currently cutstanding, the original fourider's family owns 53,225 shares. What is lhe percentage ofthe founders fami votes to Class , votes? Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places. Percentageos 15] Hints ces eBook & Resources Hint#1 O Type here to search