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Ari Hightower Owns 250 Shares of Preferred Stock That Is

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Ari Hightower owns 250 shares of preferred stock that is convertible into common stock at the rate of 3 shares for every share of preferred stock surrendered. If she surrenders all her preferred stock, she will receive------------ shares of common stock.

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Definitions:

Congress

The national legislative body of a country, particularly in the United States, it's made up of two houses: the Senate and the House of Representatives.

Two-Thirds Vote

A voting requirement used in various legislative bodies, where two-thirds of the voting members must agree on a proposal for it to pass.

Seventeenth Amendment

An amendment to the U.S. Constitution ratified in 1913 that established the direct election of U.S. Senators by popular vote, replacing their selection by state legislatures.

Senators

Members of the senate, which is one of the two chambers in the bicameral legislature of many countries, including the United States.

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