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How much does Khloe need to spend

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Question - Khloe owns 18 percent of KLK Clothing that has a total of 139,000 shares of stock outstanding. Each share receives one vote for each open seat on the board. The next election will select three new directors. The market price per share is $31. How much does Khloe need to spend, if any, to guarantee her election to the board if the firm has a cumulative voting policy and no one else votes for her?

a. $700,648

b. $660,749

c. $278,248

d. $301,661

e. $421,049

Reference no: EM132763513

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