The firm uses cumulative voting system

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Reference no: EM131577415

Miller's Hardware has 415,000 shares of stock outstanding with a current market value of $42 a share. You own 84,500 of those shares. Next month, the election will be held to select four new members to the board of directors. The firm uses a cumulative voting system. How much additional money do you need to spend to guarantee that you will be elected to the board assuming that everyone else votes for one of the other candidates?

A. $62,958

B. $98,910

C. $28,518

D. $34,062

E. $0

Reference no: EM131577415

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