How much will it cost to guarantee yourself one seat

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Reference no: EM131984588

The shareholders of Motive Power Corp. need to elect four new directors to the board. There are 13, 100,000 shares of common stock outstanding, and the current share price is $10.20.

If the company uses cumulative voting procedures, how much will it cost to guarantee yourself one seat on the board of directors?

(Do not round intermediate calculations and round your answer to the nearest whole dollar amount. (e.g., 32)) Total cost $

Reference no: EM131984588

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