Suppose you have accumulated a sizable investment (100,000 common shares) in Alpine Land and Development Company. You are dissatisfied with the performance of the current management and are considering running for the board of directors. The company has a ten-member board and a total of 1.9 million common shares outstanding. Assume that all shares will be voted in the upcoming election and that four of the ten board members are up for reelection. Round your answers to the nearest whole number.

If the voting procedure is cumulative, what number of shares is necessary to ensure your election to the board? shares Is it possible for you to be elected with fewer votes? Yes or No

Suppose a close friend of yours also owns a good deal of Alpine and shares your feelings about the current management. If the voting procedure is cumulative, how many shares are necessary to elect both you and your friend to the board? shares

If the voting procedure is majority, how many shares are necessary for election in parts a and b of this problem? shares