Question: Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) Number of Shares 14.00 140,000 13.80 220,000

Roundtree Software is going public using an auction IPO. The firm has received the following bids:

Price ($)

Number of Shares

14.00

140,000

13.80

220,000

13.60

560,000

13.40

1,150,000

13.20

1,250,000

13.00

820,000

12.80

420,000

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?

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