Question: Not sure what the answer is i got 31.3 mill. please help Problem 14-8 (bookmatch) Roundtree Software is going public using an auction IPO. The

Not sure what the answer is i got 31.3 mill. please helpNot sure what the answer is i got 31.3 mill. please help

Problem 14-8 (bookmatch) Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) 14.00 13.80 13.60 13.40 13.20 13.00 12.80 Number of Shares 100,000 200,000 500,000 1,000,000 1,200,000 800,000 400,000 Roundtree had previously believed it would issue 1,800,000 shares; however, if Roundtree decides to issue an extra 500,000 shares (for a total of 2,300,000 shares), how much total money will raise? Roundtree will raise a total amount of $31.3 million. (Round to one decimal place.)

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