Uses cumulative voting procedures

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Reference no: EM131189001

The shareholders of Motive Power Corp. need to elect three new directors to the board. There are 14, 600,000 shares of common stock outstanding, and the current share price is $10.95. If the company uses cumulative voting procedures, how much will it cost to guarantee yourself one seat on the board of directors? (Do not round intermediate calculations and round your answer to the nearest whole dollar amount, (e.g., 32))

Reference no: EM131189001

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