Marine Enterprises is offering 688 shares in a Dutch auction IPO. The following bids have been received.
Fantastic news! We've Found the answer you've been seeking!
Question:
Marine Enterprises is offering 688 shares in a Dutch auction IPO. The following bids have been received.
Bidder | Quantity | Price |
A | 446 | 32 |
B | 822 | 28 |
C | 292 | 25 |
D | 337 | 24 |
E | 646 | 20 |
What is the clearing price in the auction?
Answer should be formatted as a number with two decimal places (e.g. 99.99).
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: