Question: Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) 15.00 14.80 14.60 Number of Shares 140,000

Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) 15.00 14.80 14.60 Number of Shares 140,000 280,000 560,000 1,100,000 1,300,000 860,000 480,000 14.40 14.20 14.00 13.80 Roundtree had previously believed it would issue 2,100,000 shares; however, if Roundtree decides to issue an extra 497,000 shares (for a total of 2,597,000 shares), how much total money will it raise? Roundtree will raise a total amount of $ million. (Round to one decimal place.)
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