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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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autumnnelson123 Author
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4 years ago
Brilliant ツ
jmelchor77
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Just got PERFECT on my quiz
loki1345
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2 hours ago
Thanks for your help!!
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