Khloe Owns 18 Percent of KLK Clothing That Has a Total

Multiple Choice

Khloe owns 18 percent of KLK Clothing that has a total of 139,000 shares of stock outstanding.Each share receives one vote for each open seat on the board.The next election will select three new directors.The market price per share is $31.How much does Khloe need to spend,if any,to guarantee her election to the board if the firm has a cumulative voting policy and no one else votes for her?

A) $301,661
B) $278,248
C) $660,749
D) $700,648
E) $421,049