【正文】 0。A.36,001 sharesB.37,501 sharesC.38,501 sharesD.40,001 sharesE.42,001 shares85.A firm has two open positions on its board of directors. How many shares do you need to own to guarantee your own election to the board if the firm has 12,500 shares of stock outstanding and uses cumulative voting? Each share is granted one vote.A.3,334 sharesB.4,168 sharesC.5,251 sharesD.5,501 sharesE.6,251 shares86.Miller39。s Hardware has 185,000 shares of stock outstanding with a current market value of $27 a share. You own 38,000 of those shares. Next month, the election will be held to select four new members to the board of directors. The firm uses a cumulative voting system. How much additional money do you need to spend to guarantee that you will be elected to the board assuming that everyone else votes for one of the other candidates?A.$0B.$28,512C.$34,047D.$222,777E.$311,02787.The Chip Dip Co. has 15,500 shares of stock outstanding, grants one vote per share, and uses straight voting. How many shares must you control to guarantee that you will be elected to the firm39。s board of directors if there are three open seats?A.5,167 sharesB.5,134 sharesC.3,876 sharesD.7,751 sharesE.7,134 shares88.Kathryn owns 18,700 shares of Global Importers. Her shares have a total market value of $787,270. In total, the firm has 65,000 shares outstanding. Each share is entitled to one vote under the straight voting policy of the firm. The next election is in four months at which time two directors are up for election. How much more must Kathryn invest in this firm to guarantee that she is elected to the board?A.$0B.$513,361C.$581,022D.$647,280E.$711,01089.A preferred stock sells for $ a share and has a market return of percent. What is the dividend amount?A.$B.$C.$D.$E.$90.Central Staircase is offering preferred stock which is monly referred to as 1010 stock. This stock will pay an annual dividend of $10 a share starting 10 years from now. What is this stock worth to you today if you desire a 16 percent rate of return?A.$B.$C.$D.$E.$91.Graphic Designs has 120,000 shares of cumulative preferred stock outstanding. Preferred shareholders are supposed to be paid $ per quarter per share in dividends. However, the firm has encountered financial problems and has not paid any dividends for the past three quarters. How much will the firm have to pay per share of preferred next quarter if the firm also wishes to pay a mon stock dividend?A.$B.$C.$D.$E.$92.Webster Industrial Products has both mon and noncumulative preferred stock outstanding. The dividends on these stocks are $ per quarter per share of mon and $ per quarter per share of preferred. The pany has not paid any dividends for the past two quarters but is expected to pay dividends on both the mon and the preferred stock next quarter. What is the minimum amount the firm must pay per share to its preferred stockholders next quarter if it plans to pay a mon dividend?A.$0B.$C.$D.$E.$93.Given the following partial stock quote, what was the closing price on the previous trading day if the firm39。s earnings per share are $?A.$B.$C.$D.$E.$94.Given the following partial stock quote, what is the expected annual dividend?A.$B.$C.$D.$E.$95.Given the following partial stock quote, what is the amount of the next annual dividend if yesterday39。s closing price was $?A.$B.$C.$D.$E.$Essay Questions96.Explain the difference between puting the value of a zero growth dividendpaying stock and puting the value of a constant growth dividendpaying stock.97.Explain how staggering offsets some of the benefits associated with cumulative voting.98.How are preferred stock dividends treated for tax purposes by the issuer, an individual shareholder, and a corporate shareholder?99.How is the stated value of a preferred stock utilized?100.Explain the differences between a broker market and a dealer market.Multiple Choice Questions101.Berkeley, Inc. just paid an annual dividend of $ per share on its stock. The dividends are expected to grow at a constant rate of percent per year, indefinitely. If investors require an 11 percent return on this stock, what will the price be in 12 years?A.$B.$C.$D.$E.$102.The next dividend payment by Swenson, Inc., will be $ per share. The dividends are anticipated to maintain a percent growth rate, forever. If the stock currently sells for $ per share, what is the required return?A. percentB. percentC. percentD. percentE. percent103.Suppose you know that a pany39。s stock currently sells for $65 per share and the required return on the stock is 14 percent. You also know that the total return on the stock is evenly divided between capital gains yield and a dividend yield. If it39。s the pany39。s policy to always maintain a constant growth rate in its dividends, what is the current dividend per share?A.$B.$C.$D.$E.$104.Pluto, Inc., has an issue of preferred stock outstanding that pays a $ dividend every year, in perpetuity. If this issue currently sells for $ per share, what is the required return?A. percentB. percentC. percentD. percentE. percent105.After successfully pleting your corporate finance class, you feel the next challenge ahead is to serve on the board of directors of Marine Enterprises. Unfortunately, you will be the only individual voting for you. If Marine Enterprises has 350,000 shares outstanding and the stock currently sells for $52, how much will it cost you to buy a seat if the pany uses straight voting? Assume Marine Enterprises uses cumulative voting and there are five open