There are three seats on the board of directors of MMT$,$ Incorporated, up for election. The firm has $175,000$ shares of stock outstanding and uses cumulative voting. Each share is granted one vote per open seat. You currently own $10,000$ shares that have a market value of $$23$ each. How much must you spend, if anything, to acquire sufficient shares to guarantee your election to the board? Assume no one else votes for you.

There are three seats on the board of directors of MMT$,$ Incorporated, up for election. The firm has $175,000$ shares of stock outstanding and uses cumulative voting. Each share is granted one vote per open seat. You currently own $10,000$ shares that have a market value of $$23$ each. How much must you spend, if anything, to acquire sufficient shares to guarantee your election to the board? Assume no one else votes for you.

$$1,006,273$

$$776,273$

$$830,814$

$$688,230$

$$1,111,690$