Jensen Shipping Has 38,400 Shares Outstanding and Uses Cumulative Voting

question 7

Multiple Choice

Jensen Shipping has 38,400 shares outstanding and uses cumulative voting. The firm grants one vote for each share of common stock. What is the minimum number of votes required to obtain a seat on the board of directors if there are three open seats?

• A) 12,800
• B) 9,600
• C) 12,801
• D) 9,601
• E) 19,201

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Definitions:

Individualistic

Describing a social pattern in which individual interests, independence, and personal achievements are emphasized over collective goals.

Emotionally Oriented

Describes individuals or approaches that prioritize emotional responses and feelings in decision-making or understanding behavior.

Moral Domains

Different areas of moral reasoning and behavior, covering aspects like fairness, harm, loyalty, and purity.

Community Morals

Ethical standards and principles that are shared by and guide a community.