Highway 65, Inc., is going to elect 12 board members next month. Betty Brown owns...
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Highway 65, Inc., is going to elect 12 board members next month. Betty Brown owns 11.6 percent of the total shares outstanding. a. What percentage of stock is needed to have one of her friends elected under the cumulative voting rule? b. What percentage of stock is needed to have one of her friends elected under the staggered cumulative voting rule under which shareholders vote on 4 board member(s) at a time? (For all requirements, enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) % a. Percent of stock needed b. Percent of stock needed %
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