Question: Problem 1 7 - 1 1 ( Algo ) Different classes of voting stock [ LO 1 7 - 1 ] Rust Pipe Company was

Problem 17-11(Algo) Different classes of voting stock [LO17-1] Rust Pipe Company was established in 1994. Four years later the company went public. At that time, Roberta Rust, the original owner, decided to establish two classes of stock. The first represents Class A founders' stock and is entitled to 10 votes per share. The normally traded common stock, designated as Class B, is entitled to one vote per share. In late 2010, Mr. Park, an investor, was considering purchasing shares in Rust Pipe Company. While he knew the founders' shares were not often present in other companies, he decided to buy the shares anyway because of a new technology Rust Pipe had developed to improve the flow of liquids through pipes. Of the \(1,500,000\) total shares currently outstanding, the original founder's family owns 51,925 shares. What is the percentage of the founder's family votes to Class B votes? Note: Do not round intermediate calculations. Input your answer as a percent rounded to \(\mathbf{2}\) decimal places.
Problem 1 7 - 1 1 ( Algo ) Different classes of

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