Given That There Are 6,000,000 Shares Outstanding in a Corporation

question 21

Multiple Choice

Given that there are 6,000,000 shares outstanding in a corporation, how many additional shares will be required for a minority group of shareholders to elect 4 of the 14 members on the board of directors? (Assume cumulative voting required. Assume the company already owns 400,000 shares.)

• A) 1,600,001
• B) 1,000,001
• C) 1,714,286
• D) 1,200,001

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