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Suppose a firm has 16.2 million shares of common stock outstanding and six candidates are up for election to five seats on the board of directors.
a. If the firm uses cumulative voting to elect its board, what is the minimum number of votes needed to ensure election of one member to the board?
Minimum number of votes
b. If the firm uses straight voting to elect its board, what is the minimum number of votes needed to ensure election of one member to the board?
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