Ed bids $$22\mathrm{.}0$ for the medallion deal. If Ed is following the principles you've learned so far, what must be true at that moment?

His PISP must be equal to $$22\mathrm{.}0.$His PIBP must be equal to $$22\mathrm{.}0.$His PIBP must be greater than or equal to $$22\mathrm{.}0.$His PIBP must be less than $$22\mathrm{.}0.$All of the AboveNone of the Above