Company uses straight voting

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Voting Rights. After successfully completing your corporate finance class, you feel the next challenge is to serve on the board of directors of Schenkel Enterprises. Unfortunately, you will be the only individual voting for you. If Schenkel has 275 000 shares outstanding and the share currently sells for $23, how much will it cost you to buy a seat if the company uses straight voting? Assume that Schenkel uses cumulative voting and there are four seats in the current election; how much will it cost you to buy a seat now?

Reference no: EM131974461

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