Question: Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price (S) 14.00 13.80 13.60 13.40 13.20 13.00 12.80

Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price (S) 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 it raise? Roundtree will raise a total amount of million. (Round to one decimal place.)
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