Rust Pipe Co. was established in 1994. Four years later the company went public. At that...

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Rust Pipe Co. was established in 1994. Four years later thecompany went public. At that time, Robert Rust, the original owner,decided to establish two classes of stock. The first representsClass A founders' stock and is entitled to eight votes per share.The normally traded common stock, designated as Class B, isentitled to one vote per share. In late 2010, Mr. Stone, aninvestor, was considering purchasing shares in Rust Pipe Co. Whilehe knew the existence of founders’ shares were not often present inother companies, he decided to buy the shares anyway because of anew technology Rust Pipe had developed to improve the flow ofliquids through pipes.
Of the 1,400,000 total shares currently outstanding, theoriginal founder's family owns 51,725 shares.

What is the percentage of the founder's family votes to Class Bvotes? (Do not round intermediate calculations. Input youranswer as a percent rounded to 2 decimal places.)

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Rust Pipe Co. was established in 1994. Four years later thecompany went public. At that time, Robert Rust, the original owner,decided to establish two classes of stock. The first representsClass A founders' stock and is entitled to eight votes per share.The normally traded common stock, designated as Class B, isentitled to one vote per share. In late 2010, Mr. Stone, aninvestor, was considering purchasing shares in Rust Pipe Co. Whilehe knew the existence of founders’ shares were not often present inother companies, he decided to buy the shares anyway because of anew technology Rust Pipe had developed to improve the flow ofliquids through pipes.Of the 1,400,000 total shares currently outstanding, theoriginal founder's family owns 51,725 shares.What is the percentage of the founder's family votes to Class Bvotes? (Do not round intermediate calculations. Input youranswer as a percent rounded to 2 decimal places.)