An election is being held to fill three seats on the board, Finance Basics

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An election is being held to fill three seats on the board

Question: An election is being held to fill three seats on the board of directors of a firm in which you hold stock. The company has 8,200 shares outstanding. If the election is conducted under cumulative voting and you own 430 shares, how many more shares must you buy to be assured of earning a seat on the board?

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Finance Basics: An election is being held to fill three seats on the board

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