Question: Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) Number of Shares 14.60 120,000 14.40 200,000

Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) Number of Shares 14.60 120,000 14.40 200,000 14.20 500,000 14.00 1,000,000 13.80 1,260,000 13.60 13.40 880,000 400,000 Roundtree had previously believed it would issue 1,800,000 shares; however, if Roundtree decides to issue an extra 479,000 shares (for a total of 2,279,000 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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