Question: Roundtree Software is going public using an auction IPO. The firm has received the following bids: Number of Shares Price ($) 15.00 14.80 14.60 14.40

Roundtree Software is going public using an auction IPO. The firm

Roundtree Software is going public using an auction IPO. The firm has received the following bids: Number of Shares Price ($) 15.00 14.80 14.60 14.40 180,000 240,000 560,000 1,300,000 1,280,000 840,000 480,000 14.20 14.00 13.80 Assuming Roundtree would like to sell 2.28 million shares in its IPO, what will be the winning auction offer price? The price will be $ per share. (Round to the nearest cent.)

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