You are a shareholder in XYZ Co. and you would like to elect 6 of the 11 members of the Board of Directors. If there are 3.5 million shares outstanding what is the minimum number of shares required to elect your slate of directors under cumulative voting?

	A.	1,909,091
	B.	3,000,001
	C.	1,750,001
	D.	2,000,001

MidStrata Company considers to issue new common stock that is currently trades at $32.50 a share. MidStrata's investment bankers estimate that it will cost $2.30 a share to issue new common stock. What is MidStrata's estimated cost of new common shares, if the firm's cost of retained earnings is 12.01%?

	A.	15.00%
	B.	8.50%
	C.	12.25%
	D.	13.02%