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autumnnelson123 autumnnelson123
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5 years 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


The proceeds from the IPO be if Luther is selling 1.25 million shares is closest to:

▸ $21.6 million

▸ $21.1 million

▸ $20.6 million

▸ $20.9 million
Textbook 
Fundamentals of Corporate Finance

Fundamentals of Corporate Finance


Edition: 2nd
Authors:
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cuddahy99cuddahy99
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5 years ago
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autumnnelson123 Author
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5 years ago
Smart ... Thanks!
Jadakiss
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Yesterday
Just got PERFECT on my quiz
veronee_madison
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2 hours ago
This site is awesome
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