Candlebox Inc. is going to elect six board members next month. Betty Brown owns 17.4 percent of the total shares outstanding.
What percentage of stock is needed to have one of her friends elected under the cumulative voting rule? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
Percent of stock needed %
What percentage of stock is needed to have one of her friends elected under the staggered cumulative voting rule under which shareholders vote on two board members at a time? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
Percent of stock needed %