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Black_prince [1.1K]
3 years ago
13

The shareholders of the Stackhouse Company need to elect seven new directors. There are 850,000 shares outstanding currently tra

ding at $45 per share. You would like to serve on the board of directors; unfortunately no one else will be voting for you. How much will it cost you to be certain that you can be elected if the company uses straight voting
Business
1 answer:
Talja [164]3 years ago
6 0

Answer:

The correct answer is "$19,125,045".

Explanation:

According to the question,

Number of shares,

= 850,000

Per share,

= $45

The shares needed will be:

= (\frac{850,000}{2})+1

= 425000+1

= 425,001

hence,

The total cost will be:

= 425,001\times 45

= 19,125,045 ($)

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