Question: Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) Number of Shares 14.00 140,000 13.80 240,000

Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) Number of Shares 14.00 140,000 13.80 240,000 13.60 560,000 13.40 1,150,000 13.20 1,280,000 880,000 13.00 12.80 420,000 Roundtree had previously believed it would issue 2,100,000 shares; however, if Roundtree decides to issue an extra 536,000 shares (for a total of 2,636,000 shares), Roundtree will raise a total amount of $ million. (Round to one decimal place.)
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