You want a seat on the board of directors of Four Keys, Incorporated. The company has 235,000 shares of stock outstanding and the stock sells for $48 per share. Them are currently 3 seats up for election. The company uses straight voting. How many shares do you need to guarantee that you will be elected to the board?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter7: Common Stock: Characteristics, Valuation, And Issuance
Section: Chapter Questions
Problem 15P
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117,501 shares
You want a seat on the board of directors of Four Keys, Incorporated. The company
has 235,000 shares of stock outstanding and the stock sells for $48 per share. There
are currently 3 seats up for election. The company uses straight voting. How many
shares do you need to guarantee that you will be elected to the board?
88,126 shares
58,751 shares
105,751 shares
78,333 shares
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Transcribed Image Text:Multiple Choice 117,501 shares You want a seat on the board of directors of Four Keys, Incorporated. The company has 235,000 shares of stock outstanding and the stock sells for $48 per share. There are currently 3 seats up for election. The company uses straight voting. How many shares do you need to guarantee that you will be elected to the board? 88,126 shares 58,751 shares 105,751 shares 78,333 shares Saved < Prev 31 of 39 Help Next > Save & Exit
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