Question: Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) Number of Shares 14.20 100,000 14.00 260,000

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

Price ($)

Number of Shares

14.20

100,000

14.00

260,000

13.80

560,000

13.60

1,150,000

13.40

1,260,000

13.20

860,000

13.00

480,000

Roundtree had previously believed it would issue

2,100,000

shares; however, if Roundtree decides to issue an extra

546,000

shares (for a total of

2,646,000

shares), how much total money will it raise?

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