Answered You can hire a professional tutor to get the answer.
7. Betsy Ross owns 918 shares in the Hanson Fabrics Company. There are 13 directors to be elected. Thirty-one thousand shares are outstanding. The
7. Betsy Ross owns 918 shares in the Hanson Fabrics Company. There are 13 directors to be elected. Thirty-one thousand shares are outstanding. The firm has adopted cumulative voting.a. How many total votes can be cast? b. How many votes does Betsy control? c. What percentage of the total votes does she control?13. Prime Bankcorp has issued rights to its shareholders. The subscription price is $50 and five rights are needed along with the subscription price to buy one of the new shares. The stock is selling for $59 rights-on.a. What would be the value of one right? b. If the stock goes ex-rights, what would the new stock price be?16. Mr. and Mrs. Anderson own five shares of Magic Tricks Corporation’s common stock. The market value of the stock is $60. The Andersons also have $48 in cash. They have just received word of a rights offering. One new share of stock can be purchased at $48 for each five shares currently owned (based on five rights).a. What is the value of a right? b. What is the value of the Andersons’ portfolio before the rights offering? (Portfolio in this question represents stock plus cash.) c. If the Andersons participate in the rights offering, what will be the value of their portfolio, based on the diluted value (ex-rights) of the stock? d. If they sell their five rights but keep their stock at its diluted value and hold on to their cash, what will be the value of their portfolio?