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Skizzle234 Skizzle234
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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


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

Fundamentals of Corporate Finance


Edition: 2nd
Authors:
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Kutthroat K.Kutthroat K.
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4 years ago
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Skizzle234 Author
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#2
4 years ago
This site is awesome!
wrote...
#3
4 years ago
Slight Smile Good luck on the rest
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