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Show solution please: A firm is using cumulative voting. Five candidates are up for election to four seats on the board of directors. There are
Show solution please:
A firm is using cumulative voting. Five candidates are up for election to four seats on the board of directors. There are 3.6 million shares outstanding. How many votes must a minority owner own or control to ensure that he or she can gain control of one seat on the board of directors? Assume that each common share has 1 vote.
A. 2,000,112 votes
B. 2,151,111 votes
C. 2,365,141 votes
D. 2,880,001 votes
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