Betsy Ross owns 963 shares in the Hanson Fabrics Company. There are 14 directors
ID: 2655337 • Letter: B
Question
Betsy Ross owns 963 shares in the Hanson Fabrics Company. There are 14 directors to be elected. There are 39,500 shares outstanding. The firm has adopted cumulative voting.
How many total votes can be cast? (Do not round intermediate calculations and round your answer to the nearest whole number.)
How many votes does Betsy control? (Do not round intermediate calculations and round your answer to the nearest whole number.)
What percentage of the total votes does she control? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
Betsy Ross owns 963 shares in the Hanson Fabrics Company. There are 14 directors to be elected. There are 39,500 shares outstanding. The firm has adopted cumulative voting.
Explanation / Answer
a. Total Votes which can be casted = 39,500 x 14 = 553,000 votes
b. Votes which Betsy controls = 963 x 14 = 13,482 votes
c. Percentage of votes of Betsy = 13,482 / 553,000 = 2.44%
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