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Bejeweled, a chain of crafting shops, is selling 500,000 shares of stock in an auction IPO. At the ...

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Bejeweled, a chain of crafting shops, is selling 500,000 shares of stock in an auction IPO. At the ...

Price ($)

Number of Shares Bid

3.00

100,000

3.25

100,000

3.50

150,000

3.75

100,000

4.00

40,000

4.25

80,000

4.50

150,000

4.75

65,000

Bejeweled, a chain of crafting shops, is selling 500,000 shares of stock in an auction IPO. At the end of the bidding period they have received the bids shown above. Which of the following is closest to the price at which the shares will be offered?

▸ $3.50

▸ $4.25

▸ $4.75

▸ $3.75

Textbook

Fundamentals of Corporate Finance

Edition: 2^nd

Authors: Berk, DeMarzo, Harford

Read 103 times

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Cass S.

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More solutions for this book are available here

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michlee Author

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Helps a lot... Now I'm ready for my quiz

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