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An election is being held to fill three seats on the board of directors of a firm in which you hold stock. The company has 8,400 shares outstanding. If the election is conducted under cumulative voting and you own 450 shares, how many more shares must you buy to be assured of earning a seat on the board? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

New shares to purchase shares

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92776466

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