Question

After successfully completing your corporate finance class, you feel the next challenge ahead is to serve on the board of directors of Schenkel Enterprises. Unfortunately, you will be the only individual voting for you. a. If the company has 520,000 shares outstanding and the stock currently sells for $36, how much will it cost you to buy a seat if the company uses straight voting

Answer 1

Answer: $9360036

Step-by-step explanation:

If the straight voting method is used by the company, the number of shares that's required for the person would be:

= 520,000/2 + 1

= 260,001

Then, the total cost that'll be required to purchase a seat will then be:

= 260001 × $36

= $9360036