Final answer:
To change The Darkroom Windowshade Company's top management, more than 50% of shares are needed. Investors 1 and 2 hold 38,000 shares combined and must collaborate with at least Investor 3 to reach beyond the 50,000 vote threshold.
Step-by-step explanation:
Understanding Voting Power in Corporate Decisions
The question involves calculating the necessary voting power to change the top management of The Darkroom Windowshade Company which has 100,000 shares of stock outstanding. To change the top management, a group of shareholders would need more than 50% of the voting power, which means holding more than 50,000 shares collectively.
Investor 1 with 20,000 shares and Investor 2 with 18,000 shares can combine their voting power, totaling 38,000 shares. However, this does not exceed the 50% threshold needed to control company decisions. Thus, they would need to collaborate with at least Investor 3, who owns 15,000 shares, to surpass the 50,000 vote threshold, with a total of 53,000 shares.
If Investors 1 and 2 agree to vote together, they hold 38% of the company's shares. Although this is a significant percentage, it is not sufficient to guarantee that they will always get their way in company decisions since they do not have a majority on their own. For assurance, they would need to form a coalition with other investors to reach a majority voting power.