Candlebox Inc. is going to elect five board members next month. Betty Brown owns 16.4 percent of the total shares outstanding.
What percentage of stock is needed to have one of her friends elected under the cumulative voting rule? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
Percent of stock needed %
What percentage of stock is needed to have one of her friends elected under the staggered cumulative voting rule under which shareholders vote on three board member(s) at a time? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
Percent of stock needed %