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The shareholders of the Stackhouse Company need to elect seven new directors. There are 850,000 shares outstanding currently trading at $45 per share. You would like to serve on the board of directors; unfortunately no one else will be voting for you. How much will it cost you to be certain that you can be elected if the company uses straight voting

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Cricetus

Answer:

The correct answer is "$19,125,045".

Explanation:

According to the question,

Number of shares,

= 850,000

Per share,

= $45

The shares needed will be:

= [tex](\frac{850,000}{2})+1[/tex]

= [tex]425000+1[/tex]

= [tex]425,001[/tex]

hence,

The total cost will be:

= [tex]425,001\times 45[/tex]

= [tex]19,125,045[/tex] ($)

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