Question
Theo owns 49,800 of the 120,000 outstanding shares of BBE Inc. The share price is $28.64. Each share is granted one vote for each open
Theo owns 49,800 of the 120,000 outstanding shares of BBE Inc. The share price is $28.64. Each share is granted one vote for each open seat on the board of directors. Currently, there are three open seats. Theo wants to be on the board and is assuming that no one, other than himself, will vote for him. How much additional money, if any, must he invest in BBE to guarantee his election if the firm uses a straight voting system?
Multiple Choice
- $292,156.64
- $0
- $287,403.64
- $287,375.00
- $292,128.00
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Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
14th edition
978-1305887725, 1305887727, 1305636619, 978-1305636613
