Question: Northern Air would like to sell 4,900 shares of stock using Dutch auction underwriting. The bids received are: Bidder A- with a quantity of 1,050

Northern Air would like to sell 4,900 shares of stock using Dutch auction underwriting. The bids received are: Bidder A- with a quantity of 1,050 and a price of 29.60, Bidder B- with a quantity of 1,150 and a price of 29.25, Bidder C- with a quantity of 1,550 and a price of 29.10, Bidder D- with a quantity of 1,750 and a price of 28.75, Bidder E- with a quantity of 1,950 and a price of 28.55.

How much will the company raise in its offer?Ignore all flotation and transaction costs.

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