After successfully completing your corporate finance class, you feel the next challenge ahead is to serve...

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After successfully completing your corporate finance class, you feel the next challenge ahead is to serve on the board of dir

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Answer 1

Answer #1

Percent of stock needed = 1 / (N + 1)

Percent of stock needed = 1 / (4 + 1)

Percent of stock needed = 0.20, or 20%

Number of shares to purchase = (445,000 × 0.20) + 1

Number of shares to purchase = 89,001

Total cost = 89,001 × $54

Total cost = $4,806,054

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Answer 2

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