Raul wants to join the directors of World Trade but currentl…
Raul wants to join the directors of World Trade but currently owns no shares in the company. He knows that no one else will help elect him. Assume there are 46,000 shares outstanding at a market price of $12.80 per share. What is the minimum amount Raul must spend to acquire a seat on the board of directors if there are three open seats and straight voting applies?