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17 HW 17 HW Question 20 (of 20) 10.00 points Problem 17-4 Cumulative voting [L017-2 Do not round calculations.) /120019 Type here to search
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Answer #1

Number of shares = [(Number of directors desired) × (Total number of shares outstanding)] / (Total number of directors to be elected + 1) + 1

Number of shares = [(6 × 80,000) / (11 + 1)] + 1

Number of shares = 40,001 shares

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