Three directors are up for election and the election is based on cumulative voting. It costs...

Question

Question

Three directors are up for election and the election is based on cumulative voting. It costs...

Three directors are up for election and the election is based on cumulative voting. It costs $200,010 to guarantee one seat on the board. The stock price is $10 per share. How many shares outstanding does the company have?

business finance

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

1 seat =. 200010

3 seat = 3 × 200100

= 600300

Share price = 10

Number of share = 600300 / 10

= 60030 shares outstanding

Add a comment

Answer 2

Similar Homework Help Questions

Cumulative Voting The shareholders of Solar Power Corp. need to elect four new directors to the...

Cumulative Voting The shareholders of Solar Power Corp. need to elect four new directors to the board. There are 14.3 million shares of common stock outstanding and the current share price is $15.25. If the company uses cumulative voting procedures, how much will it cost to guarantee yourself one seat on the board of directors? (Do not round your intermediate calculations.)
You want a seat on the board of directors of Four Keys, Inc. The company has...

You want a seat on the board of directors of Four Keys, Inc. The company has 310,000 shares of stock outstanding and the stock sells for $49 per share. There are currently 5 seats up for election. If the company uses cumulative voting, how many shares do you need to guarantee that you will be elected to the board?
You want a seat on the board of directors of Four Keys, Inc. The company has...

You want a seat on the board of directors of Four Keys, Inc. The company has 250,000 shares of stock outstanding and the stock sells for $51 per share. There are currently 5 seats up for election. If the company uses cumulative voting, how many shares do you need to guarantee that you will be elected to the board?

You want a seat on the board of directors of Four Keys, Inc. The company has...

You want a seat on the board of directors of Four Keys, Inc. The company has 225,000 shares of stock outstanding and the stock sells for $66 per share. There are currently 3 seats up for election. If the company uses cumulative voting, how many shares do you need to guarantee that you will be elected to the board?
You want a seat on the board of directors of Zeph, Inc. The company has 315,000...

You want a seat on the board of directors of Zeph, Inc. The company has 315,000 shares of stock outstanding and the stock sells for $46 per share. There are currently 4 seats up for election. If the company uses cumulative voting, how much will it cost you to guarantee that you will be elected to the board?
You want a seat on the board of directors of Zeph, Inc. The company has 205,000...

You want a seat on the board of directors of Zeph, Inc. The company has 205,000 shares of stock outstanding and the stock sells for $78 per share. There are currently 5 seats up for election. If the company uses cumulative voting, how much will it cost you to guarantee that you will be elected to the board?

You want a seat on the board of directors of Zeph, Inc. The company has 305,000...

You want a seat on the board of directors of Zeph, Inc. The company has 305,000 shares of stock outstanding and the stock sells for $52 per share. There are currently 4 seats up for election. If the company uses cumulative voting, how much will it cost you to guarantee that you will be elected to the board?
The shareholders of Motive Power Corp. need to elect three new directors to the board. There...

The shareholders of Motive Power Corp. need to elect three new directors to the board. There are 15,000,000 shares of common stock outstanding, and the current share price is $11.15. If the company uses cumulative voting procedures, how much will it cost to guarantee yourself one seat on the board of directors? (Do not round intermediate calculations and round your answer to the nearestwhole dollar amount. (e.g., 32)) Total cost
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?

A company has three open seats on its board of directors. There will be a single election to determine the winner of all open seats. As the owner of 50,000+(5,000xA) shares of stock (with A: the last digit of your student ID; for example, if the last di

A company has three open seats on its board of directors. There will be a single election to determine the winner of all open seats. As the owner of 50,000+(5,000) shares of stock, you will receive one vote per share for each open seat. You decide to cast all of your votes for a single candidate. a. What is this type of voting called? What is the number of votes you can cast? b. With this type of voting, suppose the company...

Three directors are up for election and the election is based on cumulative voting. It costs...

Homework Answers

Add Answer to:
Three directors are up for election and the election is based on cumulative voting. It costs...

Post as a guest

Earn Coins

Cumulative Voting The shareholders of Solar Power Corp. need to elect four new directors to the...

You want a seat on the board of directors of Four Keys, Inc. The company has...

You want a seat on the board of directors of Four Keys, Inc. The company has...

You want a seat on the board of directors of Four Keys, Inc. The company has...

You want a seat on the board of directors of Zeph, Inc. The company has 315,000...

You want a seat on the board of directors of Zeph, Inc. The company has 205,000...

You want a seat on the board of directors of Zeph, Inc. The company has 305,000...

The shareholders of Motive Power Corp. need to elect three new directors to the board. There...

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

A company has three open seats on its board of directors. There will be a single election to determine the winner of all open seats. As the owner of 50,000+(5,000xA) shares of stock (with A: the last digit of your student ID; for example, if the last di

Three directors are up for election and the election is based on cumulative voting. It costs...

Homework Answers

Add Answer to: Three directors are up for election and the election is based on cumulative voting. It costs...

Post as a guest

Earn Coins

Add Answer to:
Three directors are up for election and the election is based on cumulative voting. It costs...