Roundtree Software is going public using an auction IPO. The firm has received the following bids:Price ($)Number of Shares14.60140,00014.40200,00014.20560,00014.001,000,00013.801,280,00013.60880,000420,00013.40Roundtree had previously believed it would issue 1,900,000 shares, however, if Roundtree decides to issue an extra 488,000 shares (for a total of 2,388,000 shares), how much total money will it raise?Roundtree will raise a total amount of $million (Round to one decimal place.)

Answered: Image /qna-images/answer/cf33722e-7eeb-4bfa-ab78-b616ca9bc862.jpg

Answered: Roundtree Software is going public…

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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