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Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) Number of Shares 14.80 100,000 14.60 240,000 14.40 580,000 14.20 14.00 13.80 13.60 1,200,000 1,260,000 880,000 440,000 Assuming Roundtree would like to sell 2.12 million shares in its IPO, what will be the winning auction offer price? The price will be $ per share. (Round to the nearest cent.)

Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) Number of Shares 14.80 100,000 14.60 240,000 14.40 580,000 14.20 14.00 13.80 13.60 1,200,000 1,260,000 880,000 440,000 Assuming Roundtree would like to sell 2.12 million shares in its IPO, what will be the winning auction offer price? The price will be $ per share. (Round to the nearest cent.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) 14.80 14.60 14.40 14.20 14.00 13.80 13.60 Number of Shares 100,000 240,000 580,000 1,200,000 1,260,000 880,000 440,000 Assuming Roundtree would like to sell 2.12 million shares in its IPO, what will be the winning auction offer price? The price will be $ per share. (Round to the nearest cent.)
Transcribed Image Text:Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) 14.80 14.60 14.40 14.20 14.00 13.80 13.60 Number of Shares 100,000 240,000 580,000 1,200,000 1,260,000 880,000 440,000 Assuming Roundtree would like to sell 2.12 million shares in its IPO, what will be the winning auction offer price? The price will be $ per share. (Round to the nearest cent.)
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