Simplify the complex fraction. 
Definitions:
Preferred Stock
An ownership type in a corporation that prioritizes claims on assets and income over ordinary shares, often characterized by consistent dividend payouts.
Expected Return
The anticipated return on an investment, accounting for various outcomes and their probabilities.
Cumulative Voting
A voting system that allows shareholders to allocate their total votes in any manner they choose among the candidates running for a position.
Minority Representation
The inclusion and representation of individuals from smaller or less dominant groups within a larger population, often in governance, organizations, or research.
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