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    An election is being held to fill three seats on the board o

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    An election is being held to fill three seats on the board of directors of a firm in which you hold stock. The company has 5,800 shares outstanding. If the election is conducted under cumulative voting and you own 300 shares, how many more shares must you buy to be assured of earning a seat on the board?

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    Solution Summary

    An election is being held to fill three seats on the board of directors of a firm in which you hold stock. The company has 5,800 shares outstanding. If the election is conducted under cumulative voting and you own 300 shares, how many more shares must you buy to be assured of earning a seat on the board?

    $2.19

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