An election is being held to fill 3 seats on the board of, Financial Management

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An election is being held to fill 3 seats on the board of

An election is being held to fill 3 seats on the board of directors in a firm in which you hold stock. The company has 7,900 shares outstanding. If the election is conducted under cumulative voting and you own 400 shares, how many shares must you buy to be assured of earning a seat on the board? ( Do not round intermediate calculations and round your answer to the nearest whole number )

Shares to purchase ___ shares

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