How many directors would peter be able to elect

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Reference no: EM131389510

Acme Corporation's articles of incorporation require cumulative voting for the election of its directors. The board of directors of Acme Corporation consists of nine directors, each elected annually.

a. Peter owns 24 percent of the outstanding shares of Acme Corporation. How many directors can he elect with his votes?

b. If Acme Corporation were to classify its board into three classes, each consisting of three directors elected every three years, how many directors would Peter be able to elect?

Reference no: EM131389510

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