Question: Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) 14.80 14.60 14.40 Number of Shares 100,000

Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) 14.80 14.60 14.40 Number of Shares 100,000 280,000 540,000 1,200,000 1,250,000 820,000 480,000 14.20 14.00 13.80 13.60 Roundtree had previously believed it would issue 2,100,000 shares; however, if Roundtree decides to issue an extra 507,000 shares (for a total of 2,607,000 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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