The shareholders of the Stackhouse Company need to elect seven new directors. There are 970,000 shares outstanding currently trading at $57 per share. You would like to serve on the board of directors; unfortunately no one else will be voting for you.

How much will it cost you to be certain that you can be elected if the company uses straight voting? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Total cost$

How much will it cost you if the company uses cumulative voting? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Total cost$

An election is being held to fill four seats on the board of directors of a firm in which you hold stock. The company has 8,600 shares outstanding. If the election is conducted under cumulative voting and you own 470 shares, how many more shares must you buy to be assured of earning a seat on the board? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

New shares to purchase