1. The shareholders of Bryant Power Corp. need to elect four new directors to the board. There are 13,100,000 shares of common stock outstanding, and the current share price is $10.20. If the company uses cumulative voting procedures, how much will it cost to guarantee yourself one seat on the board of directors?
2. Kiedis Corp. has interest bearing debt with a market value of $70.3 million. The company also has 2.7 million shares that sell for $24 per share. What is the debt–equity ratio for this company based on market values?