You want to serve on the board of directors of Schenkel Enterprises. Unfortunately, you will be the only individual voting for you. If Schenkel has 1,000,000 shares outstanding the stock currently sells for $50, how much will it cost you to buy a set if the company uses cumulative voting and there are seven seats in the current election? $6,250,050 O $7,142,907 O $25,000,050 O $7,250,050 O $8,750,050