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    pattikake1959's Avatar
    pattikake1959 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 13, 2009, 11:35 PM
    voting rights
    6. Andrew Thompson owns 65,000 shares of Beta Enterprises. His shares have a total market value of $1,820,000. In total, Beta Enterprises has 250,000 shares outstanding. Each share is entitled to one vote under the straight voting policy of the firm. The next election is in three months at which time three directors are up for election. How much more must Andrew invest in this firm to guarantee that he is elected to the board?
    A. $0
    B. $513,361
    C. $625,000
    D. $1,680,028
    E. $1,750,000

    this is what I did but I'm not gettinthe rigth answer how I came up with the $28 was by 1,820,000/65,000=28
    1/(n+1)
    1/(3+1)=1/4=25 or 25%
    25% of 250,000 shares =10,000+1 0r10,001
    =10,001*28
    $280,028 this is not a choice
    ArcSine's Avatar
    ArcSine Posts: 969, Reputation: 106
    Senior Member
    		  
    #2

    Nov 14, 2009, 06:44 AM
    How many shares will he need? Choice (B), for example, will give him exactly one share more than 1/3 of the outstanding shares. Choice (D), on the other hand, leaves him holding 125,001 shares--exactly one share more than half of the outstanding shares.
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