Question: Having trouble with this HW problem... please explain how you got the answer thank you!! You want to serve on the board of directors of

Having trouble with this HW problem... please explain how you got the answer thank you!!

You want to serve on the board of directors of Stafford Enterprises. Unfortunately, you will be the only individual voting for you. Requirement 1: If Stafford has 350,000 shares outstanding and the stock currently sells for $31, how much will it cost you to buy a seat if the company uses straight voting? (Do not round intermediate calculations.) Total cost Requirement 2: Assume that Stafford uses cumulative voting and there are three seats in the current election; how much will it cost you to buy a seat now? (Do not round intermediate calculations.) Total cost

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