Quantum Inc. has 5.4 million shares outstanding, and the firm's charter provides for cumulative voting. The company has a twelve-member board of directors, all of whom are up for reelection. What is the minimum number of shares needed to ensure the election of one director?
A) 450,001
B) 415,386
C) 431,251
D) 425,421
Correct Answer:
Verified
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