The Beasley Corporation has been experiencing declining earnings but has just announced a 50 percent salary...

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The Beasley Corporation has been experiencing declining earningsbut has just announced a 50 percent salary increase for its topexecutives. A dissident group of stockholders wants to oust theexisting board of directors. There are currently 15 directors and31,000 shares of stock outstanding. Mr. Wright, the president ofthe company, has the full support of the existing board. Thedissident stockholders control proxies for 12,001 shares. Mr.Wright is worried about losing his job.
a-1. Under cumulative voting procedures, howmany directors can the dissident stockholders elect with theproxies they now hold? (Do not round intermediatecalculations. Round your answer down to the nearest wholenumber.)


a-2. How many directors could they elect undermajority rule with these proxies?

One
Two
Three
Four
None

b. How many shares (or proxies) are needed toelect eight directors under cumulative voting? (Do notround intermediate calculations. Round your answer up to thenearest whole number.)

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Answer a 1 Number of directors that can be selected Shares owned 1 Total No of directors 1 Total no of Shares See Answer

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The Beasley Corporation has been experiencing declining earningsbut has just announced a 50 percent salary increase for its topexecutives. A dissident group of stockholders wants to oust theexisting board of directors. There are currently 15 directors and31,000 shares of stock outstanding. Mr. Wright, the president ofthe company, has the full support of the existing board. Thedissident stockholders control proxies for 12,001 shares. Mr.Wright is worried about losing his job.a-1. Under cumulative voting procedures, howmany directors can the dissident stockholders elect with theproxies they now hold? (Do not round intermediatecalculations. Round your answer down to the nearest wholenumber.) a-2. How many directors could they elect undermajority rule with these proxies? OneTwoThreeFourNoneb. How many shares (or proxies) are needed toelect eight directors under cumulative voting? (Do notround intermediate calculations. Round your answer up to thenearest whole number.)