I have part a correct. I need help with part b. Please show your work. Thanks! T

Question

I have part a correct. I need help with part b. Please show your work. Thanks!

The shareholders of the Pickwick Paper Company need to elect six directors. There are 450,000 shares outstanding.

a. What is the minimum number of shares you need to own to ensure that you can elect at least one director if the company has majority voting?

Number of shares 225001

b. What is the minimum number of shares you need to own to ensure that you can elect at least one director if the company has cumulative voting? (Round your answer to the nearest whole number.) Number of shares -

Explanation / Answer

b. cumulative voting requires (1 / N +1 ) % of the shares + 1 share = [1/(6+1)]% of 450000 shares + 1 share

= 64287 shares

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