Question

Highway 65, Inc., is going to elect six board members next month. Betty Brown owns 16.8 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 two 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 1