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2 weeks ago
Use the information for the question(s) below.

Luther Industries is in the process of selling shares of stock in an auction IPO.  At the end of the bidding period, Luther's investment bank has received the following bids:

Price ($)Number of Shares Bid
$19.50 50,000
$19.25 25,000
$19.10 25,000
$19.00 100,000
$18.75 125,000
$18.50 75,000
$18.25 150,000
$18.00 240,000
$17.75 80,000
$17.50 125,000
$17.25 150,000
$17.00 100,000
$16.90 60,000
$16.75 80,000
$16.50 75,000
$16.25 200,000


What will the offer price of these shares be if Luther is selling 1 million shares?

▸ $17.50

▸ $17.00

▸ $17.25

▸ $16.75
Textbook 
Fundamentals of Corporate Finance
Edition: 2nd
Authors:
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2 weeks ago
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$17.25
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This site is awesome!
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2 weeks ago
Slight Smile Good luck on the rest
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