The bylaws of XYZ Corporation have adopted “Cumulative Voting” procedure to elect board of directors. XYZ has currently 264,000 shares outstanding with each share having one vote. The shares are currently selling for $33 per share. There are 3 positions up for election for board of directors position. What is the total investment needed for guaranteeing getting elected to the board of directors?

 

 

 

Group of answer choices

 

 

 

$4,443,120

 

 

 

$4,356,033

 

 

 

$2,178,033

 

 

 

$2,904,033

 

 

 

$1,732,199

 

 

You are planning to buy a bond that is currently selling in the market for $1,011 This bond has a coupon rate of 9% and pays coupon semi annually. Coupon payments are received on January 1st and July 1st of each year. Assume that today is May 1st. What is the invoice price of this bond today?

 

 

 

Group of answer choices

 

 

 

$1,137.38

 

 

 

$1,041

 

 

 

$1,026

 

 

 

$1,024.33

 

 

 

$1,071