The Beasly Corporation has been experiencing declining earnings but has just announced a 50 percent salary increase for its top executives. A dissident group of shareholders wants to oust the existing board of directors. There are currently 11 directors and 31,500 shares of stock outstanding. Mr. Wright, the president of the company, has the full support of the existing board. The dissident shareholders control proxies for 13,001 shares. Mr. Wright is worried about losing his job.

a-1. Under cumulative voting procedures, how many directors can the dissident shareholders elect with the proxies they now hold? (Round down the final answer to the nearest whole number.)

Number of directors |_________

b. How many shares (or proxies) are needed to elect eight directors under cumulative voting?

Number of shares ________