Need help Laura Lynn owns 20,700 shares of Global Exporters.Her shares have a total market value of $787,270. Intotal, the firm has 65,000 shares outstanding. Eachshare is entitled to one vote under the straight votingpolicy of the firm. The next election is in four monthsat which time two directors are up for election. Howmuch more must Laura Lynn invest in this firm toguarantee that she is elected to the board?

Okay, let's organize the information we have:- Laura Lynn owns 20,700 shares of Global Exporters-…

Answered: Laura Lynn owns 20,700 shares of Global…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter7: Common Stock: Characteristics, Valuation, And Issuance

Section: Chapter Questions

Problem 15P

See similar textbooks

Similar questions

Need answer the question
Give true solution
Provide correct answer this financial accounting question
5.
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?
ABC Co. needs to elect four individuals to board of directors position. ABC has 180,000 shares outstanding and the stock is currently selling for $30 . Individual A wants to serve on the board of directors. How much will it cost A (number of shares times price ) to buy a seat if the company uses straight voting? What if the firm uses cumulative voting? $2,700,030; $1,080,030 $2,640,030; $1,320,030 $2,700,030; $1,350,030 $2,640,030; 1,360,030 $2,710,030; $1,430,030
You want a seat on the board of directors of Red Cow, Inc. The company has 260,000 shares of stock outstanding and the stock sells for $51 per share. There are currently 5 seats up for election. The company uses straight voting. How much will it cost you to guarantee that you will be elected to the board?
A firm has four 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 387,500 shares of stock outstanding and uses cumulative voting? Each share is granted one vote.
David Rothchild owns 6,001 shares of the Motor Corp. There are 12 seats on the company board of directors, and the company has a total of 78,000 shares of stock outstanding. The Motor Corp. utilizes cumulative voting. A. Can David Rothchild elect himself to the board when the vote to elect 12 directors is held next week?
Sokka Inc has 210,000 sharesoutstanding priced at $29 a share.There will be four open positions. on its board in the next election.Currently, you are not a shareholder but would like to become one and alsogain a seat on the board. How muchwill it cost you to buy a seat if thecompany uses straight voting?A) $2,646,077 B) $3,670,947 C)$3,012,044 D)1,218,029 E)$3,045,029 Please answer fast I will give you upvote
Highway 65, Incorporated, is going to elect Seven board members next month. Marisol owns 17.3 percent of the total shares outstanding. a. What percentage of stock is needed to have one of her friends elected under the cumulative voting rule? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What percentage of stock is needed to have one of her friends elected under the staggered cumulative voting rule, under which shareholders vote on One board member(s) at a time? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) a. Percent of stock needed b. Percent of stock needed % %
Highway 65, Incorporated, is going to elect Seven board members next month. Marisol owns 17.3 percent of the total shares outstanding. a. What percentage of stock is needed to have one of her friends elected under the cumulative voting rule? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What percentage of stock is needed to have one of her friends elected under the staggered cumulative voting rule, under which shareholders vote on One board member(s) at a time? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct. 8.33% a. Percent of stock needed b. Percent of stock needed 50.00 %

SEE MORE QUESTIONS

Recommended textbooks for you

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

SWFT Corp Partner Estates Trusts

Accounting

ISBN:

9780357161548

Author:

Raabe

Publisher:

Cengage

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

SWFT Corp Partner Estates Trusts

Accounting

ISBN:

9780357161548

Author:

Raabe

Publisher:

Cengage

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS