A firm has 200,000 outstanding shares and 11 directors.Doug owns 15,500 shares of this firm. How manydirectors can Doug elect with cumulative voting?Multiple Choice••••0213

In cumulative voting, each shareholder has a total number of votes equal to the number of shares…

Answered: A firm has 200,000 outstanding shares…

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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Suppose that you represent a group of shareholders who collectively holds 300,000 shares of stock in XYZ Corporation. XYZ Corporation has cumulative voting and has a total of 2,000,000 shares outstanding. There are five open seats on the Board of Directors and seven candidates running for a position on the BOD. Can your group be assured that it can get one person on the BODs?
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Melanie founded her company using $250,000 of her own money, issuing herself 100,000 shares of stock. An angel investor bought an additional 50,000 shares for $350,000. She now sells another 190,000 shares to a venture capitalist for $750,000. What percentage of the firm does Melanie now own? OA. 19% OB. 38% O C. 50% O D. 29% O E. 33% C

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A firm has 200,000 outstanding shares and 11 directors. Doug owns 15,500 shares of this firm. How many directors can Doug elect with cumulative voting? Multiple Choice • • • • 0 2 1 3