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autumnnelson123 autumnnelson123
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4 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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4 years ago
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autumnnelson123 Author
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4 years ago
Thanks
lolaww
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Yesterday
Correct Slight Smile TY
annielin111
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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