A firm has two open positions on its board of directors.How many shares do you need to own to guarantee your own election to the board if the firm has 12,500 shares of stock outstanding and uses cumulative voting? Each share is granted one vote.
A) 3,334 shares
B) 4,168 shares
C) 5,251 shares
D) 5,501 shares
E) 6,251 shares
Correct Answer:
Verified
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