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Your Firm Is Converting from Cumulative Voting to Straight Voting

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Your firm is converting from cumulative voting to straight voting. You currently own the minimum number of shares needed to assure yourself a seat on the board in any election under cumulative voting. How many more shares must you purchase in order to assure yourself a seat under straight voting? Assume there are a total of 500,000 shares outstanding and that three directors go up for election at a time.


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