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The shareholders of ABC Corp. need to elect 5 new directors to the board. There are 1 2 , 0 0 0 , 0 0

The shareholders of ABC Corp. need to elect 5 new directors to the board. There are 12,000,000 shares of common stock outstanding, and the current share price is $12.50.If the company uses cumulative voting procedures, how much will it cost to guarantee yourself one seat on the board of directors? How much would it cost to guarantee one seat on the board under straight voting?

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