Question: Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) 15.00 14.80 14.60 14.40 14.20 14.00 13.80

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: Price ($) 15.00 14.80 14.60 14.40 14.20 14.00 13.80 Number of Shares 100,000 240,000 520,000 1,000,000 1,260,000 880,000 420,000 Assuming Roundtree would like to sell 1.86 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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