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zavuch27 [327]
3 years ago
12

You want a seat on the board of directors of Four Keys, Inc. The company has 240,000 shares of stock outstanding and the stock s

ells for $57 per share. There are currently 3 seats up for election. If the company uses cumulative voting, how many shares do you need to guarantee that you will be elected to the board?
Business
1 answer:
Ganezh [65]3 years ago
8 0

Answer:

$3420057

Explanation:

the company uses cumulative voting, the board of directors are all elected at once. You will need 1/(N+ 1) percent of the stock (plus one share) to guarantee election, where N is the number of seats up for election. So, the percentage of the company’s stock you need will be:Percent of stock needed = 1 / (N+ 1)Percent of stock needed =

1 / (3 + 1)Percent of stock needed = .25 or 25%So, the number of shares you need to purchase is:Number of shares to purchase = (240,000 × .25) + 1Number of shares to purchase = 60,001 And the total cost to you will be the shares needed times the price per share, or: Total cost = 60,001  $57Total cost =$ 3420057

You might be interested in
Kelly’s Jewelry has the following transactions during the year: total jewelry sales = $640,000; sales discounts = $14,500; sales
pochemuha

Answer:

$559,020

Explanation:

The computation of net sales is shown below:-

Total sales = $640,000

Sales discount = $14,500 + $1,450

= $15,950

Sales return = $39,000 + $4,680

= $43,680

Sales allowance = $19,000 + $2,530

= $21,350

So,

Net sales = Total sales - Sales discount - Sales return - Sales allowance

= $640,000 - $15,950 - $43,680 - $21,350

= $559,020

Therefore for computing the net sales we simply applied the above formula.

8 0
2 years ago
A JIT system uses kanban cards to authorize movement of incoming parts. In one portion of the system, a work center uses an aver
ycow [4]

Answer: 4 containers

Explanation:

The formula used to get the number of containers that are needed will be:

N = DT(1+X)/C

where,

N = total containers

D = planned usage rate used by the work center = 111 parts per hour

T = average waiting time = 100 minutes = 100/60 hours = 1.67 hours

X = inefficiency factor = 0.21

C = capacity of standard container = 5 dozens = 5 × 12 = 60 parts

N = DT(1+X)/C

N = (111 × 1.67)(1 + 0.21)/60

N = (185.37 × 1.21)/60

N = 224.2977/60

N = 3.738

N = 4 approximately

4 containers will be needed

4 0
3 years ago
Kaspar Corporation makes a commercial-grade cooking griddle. The following information is available for Kaspar Corporation's ant
Leto [7]

Answer:

Total cost per unit is $77

Explanation:

Fixed manufacturing overhead per unit = Total fixed manufacturing overhead ÷ Number of units

= $478,800 ÷ 34,200 = $14 per unit

Fixed selling and administrative expenses per unit = Total Fixed selling and administrative expenses ÷ Number of units

= $171,000 ÷ 34,200 = $5 per unit.

Total cost per unit = Direct material + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead + Variable selling expenses + Fixed selling expenses

Total cost per unit = $15 + $5 + $11 + $14 + $5 + $5 = $55 per unit.

Markup = 40% of total cost = $55 × 40% = $22

Therefore, total selling price per unit = Cost per unit + Markup

= $55 + $22 = $77 per unit.

7 0
3 years ago
The current market price of a share of Disney stock is $60. If a call option on this stock has a strike price of $65, the call c
erastovalidia [21]

Answer:

Is out of the money

Explanation:

A strike price is a particular price which if activated, derivative contracts can be sold or bought. Derivatives are considered as products in finance where underlying assets are major determinants of their value.

The stock price is considered as the current price that a share of stocks is sold and bought on the market.

Because the strike price is $65 and the stock price (market price) is $60, Disney is out of money and cannot be exercised profitably.

7 0
3 years ago
Bill Dukes has $100,000 invested in a 2-stock portfolio. $32,500 is invested in Stock X and the remainder is invested in Stock Y
pshichka [43]

Answer:

0.98

Explanation:

Computation for Bill Duke portfolio's beta

First step is to find the Investment in Y which is:

Investment in Y=100,000-35,000

=$65,000

Second step is to calculate for the Portfolio beta using this formula

Portfolio beta=Respective beta*Respective Investment weight

Portfolio beta =(35,000/100,000*1.5)+(65,000/100,000*0.7)

Portfolio beta=(0.35*1.5) +(0.65*0.7)

Portfolio beta =0.525 +0.455

Portfolio beta=0.98

Therefore the Portfolio Beta will be 0.98

7 0
3 years ago
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