You want to serve on the board of directors of Sanders Enterprises. Unfortunately, you will be the only individual voting for you.

Requirement 1: If Sanders has 420,000 shares outstanding and the stock currently sells for $31, how much will it cost you to buy a seat if the company uses straight voting? (Do not round intermediate calculations.)

Total cost $

Requirement 2: Assume that Sanders uses cumulative voting and there are three seats in the current election; how much will it cost you to buy a seat now? (Do not round intermediate calculations.)

Total cost $