u want a seat on the board of directors of Zeph, Inc. The company has 310,000 shares of stock outstanding and the stock sells for $49 per share. There arerrently 5 seats up for election. If the company uses cumulative voting, how much will it cost you to guarantee that you will be elected to the board?Multiple Choice$2,531,716$13.020,084$3.906.076$8,680,084

A common stock is a share of a company's ownership and gives the shareholder a dividend, which vary…

Answered: want a seat on the board of directors…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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In September, the board of directors of chaparral steel approved a 2 for 1 stock split. After the split, how many shares of chaparral steel stock will an investor have if he or she owned 230 shares before the split?
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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
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Jolie has an outstanding order with her stock broker to purchase 1,000 shares of every IPO. The current three IPOs are each priced at $16 a share and all started trading this morning. Jolie was allocated 300 shares of IPO A, 100 shares of IPO B, and 1,000 shares of IPO C. IPO A opened at $17 a share this morning and ended the day at $17.50 a share. IPO B opened at $21 a share and finished the day at $23 a share. IPO C opened at $16 a share and ended the day at $14.50 a share. What is Jolie's total profit or loss on these three IPOS as of the end of the day? O a. -$400 O b. -$350 O c. -$200 O d. -$150 O e. -$100
You currently own 600 shares of stock AAA. The stock currently trades at $3 a share. The company is contemplating a 1-for-3 reverse stock split. Which of the following best describes your position after the proposed stock split takes place? You will have 200 shares of stock with $9 a share. You will have 1,800 shares of stock with $1 a share. You will have 200 shares of stock with $9 a share. You will have 1,800 shares of stock with $9 a share.
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?
Give typing answer with explanation and conclusion 1. To incentivize our employees, we are considering issuing them employee equity. The average employee would be issued stock options to purchase 800 shares at our current stock price of $210 per share. We are hopeful that the Smoothie business will catapult us to $230 per share in the future but recognize the risks. If an employee exercises the options at $210 per share, how much would the employee make before taxes?
United Uninsured Underwriters (U3) needs $192 million to stay in business. If new common stock is issued, U3 must pay its investment banker a fee equal to 8 percent of the total amount issued. The new issue will also require Us to pay $280,000 in fees to its lawyers, printing costs, and other costs associated with the issue. U3 can issue stock at $25 per share. How many shares of common stock must Us issue so that it has $192 million after flotation costs? Show how much of the total dollar amount of the issue will be flotation costs and how much U3 will receive after the flotation costs are paid.
Midland Petroleum is holding a stockholders' meeting next month. Ms. Ramsey is the president of the company and has the support of the existing board of directors. All 12 members of the board are up for reelection. Mr. Clark is a dissident stockholder. He controls proxies for 41,001 shares. Ms. Ramsey and her friends on the board control 51,001 shares. Other stockholders, whose loyalties are unknown, will be voting the remaining 24,998 shares. The company uses cumulative voting. a. How many directors can Mr. Clark be sure of electing? Note: Do not round intermediate calculations. Round down your answer to the nearest whole number. Number of directors b. How many directors can Ms. Ramsey and her friends be sure of electing? Note: Do not round intermediate calculations. Round down your answer to the nearest whole number. Number of directors c-1. How many directors could Mr. Clark elect if he obtains all the proxies for the uncommitted votes? Note: Do not round intermediate calculations.…
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