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You want a seat on the board of directors of Red Cow, Inc. The company has...

You want a seat on the board of directors of Red Cow, Inc. The company has 295,000 shares of stock outstanding and the stock sells for $64 per share. There are currently 3 seats up for election. The company uses straight voting. How much will it cost you to guarantee that you will be elected to the board?

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Answer #1

Shares needed = (295,000 shares / 2) + 1

Shares needed = 147,501

Total cost = 147,501 × $64

Total cost = $9,440,064

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