The Blue Marlin Is Owned by a Group of 5

Multiple Choice

The Blue Marlin is owned by a group of 5 shareholders who all vote independently and who all want personal control over the firm.What is the minimum percentage of the outstanding shares one of these shareholders must own if he or she is to gain personal control over this firm given that the firm uses straight voting?

A) 17 percent
B) 20 percent plus one vote
C) 25 percent plus one vote
D) 50 percent plus one vote
E) 51 percent