Mr. R.C. Cola owns 7,001 shares of Softdrinks, Inc. There are 10 seats on the company board
Question:
Mr. R.C. Cola owns 7,001 shares of Softdrinks, Inc. There are 10 seats on the company board of directors, and the company has a total of 77,000 shares outstanding. Softdrinks, Inc., utilizes cumulative voting.
Can Mr. Cola elect himself to the board when the vote to elect 10 directors is held next week?
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Related Book For
Foundations of Financial Management
ISBN: 978-0077454432
14th edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
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