Hi-lo has 160000 shares outstanding priced at 33 a share, Finance Basics

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Hi-lo has 160000 shares outstanding priced at 33 a share

Question: Hi-Lo has 160,000 shares outstanding priced at $33 a share. There will be three open positions on its board in the next election. Currently, you are not a shareholder but would like to become one and also gain a seat on the board. How much will it cost you to buy a seat if the company uses straight voting?

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Finance Basics: Hi-lo has 160000 shares outstanding priced at 33 a share

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