After successfully completing your corporate finance class, you feel the next challenge ahead is to serve...
After successfully completing your corporate finance class, you feel the next challenge ahead is to serve on the board of directors of Schenkel Enterprises. Unfortunately, you will be the only person voting for you. If the company has 385,000 shares outstanding, and the stock currently sells for $42, how much will it cost you to buy a seat if the company uses straight voting? (Do not round intermediate calculations.)
Homework Answers
Shares needed = (385,000 shares / 2) + 1
Shares needed = 192,501
Total cost = 192,501 × $42
Total cost = $8,085,042
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After successfully completing your corporate finance class, you
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