Problem 15-1 Corporate VotingThe shareholders of the Pineapple Company need to elect nine new directors. There are800,000 shares outstanding currently trading at $40 per share. You would like to serveon the board of directors; unfortunately, no one else will be voting for you.a. How much will it cost you to be certain that you can be elected if the company usesstraight voting? (Do not round Intermediate calculations and enter your answer indollars, not millions of dollars, rounded to the nearest whole number, e.g.,1,234,567.)b. How much will it cost you if the company uses cumulative voting? (Do not roundIntermediate calculations and enter your answer in dollars, not millions of dollars,rounded to the nearest whole number, e.g., 1,234,567.)Answer is complete but not entirely correct.$ 16,000,000$ 144,000,040a. Straight voting costb. Cumulative voting cost

In corporates there is democracy in shareholders and shareholder can elect directors through voting…

Answered: The shareholders of the Pineapple…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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