Mr. Meyers wishes to know how many shares are necessary to elect 2 directors out of...
Mr. Meyers wishes to know how many shares are necessary to elect 2 directors out of 9 directors up for election in the Austin Power Company. There are 82,000 shares outstanding. (Do not round intermediate calculations.)
Homework Answers
the following formula can be used.
[[(number of directors desired to be elected)*(total outstanding shares)] /(total directors to be elected+1)] + 1
=>[[2*82,000]/(9+1)]+1
=>16,401 shares.
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