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Objective of getting enough votes

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XYZ Corp. needs to elect three individuals to fill the vacancy for the Board of Director's position. The shares of XYZ are currently selling for $33 each and there are a total of 160,000 outstanding shares of this company. If James, an outsider wants to buy shares of XYZ with an objective of getting enough votes to get elected as a board of director. How much money James would need to spend: if Straight voting is used and also if Cumulative voting is used.

Reference no: EM132689225

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