Question: Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) Number of Shares 14.80 180,000 14.60 260,000

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

Price ($)

Number of Shares

14.80

180,000

14.60

260,000

14.40

500,000

14.20

1,100,000

14.00

1,250,000

13.80

800,000

13.60

420,000

Roundtree had previously believed it would issue

2,000,000

shares; however, if Roundtree decides to issue an extra

502,000

shares (for a total of

2,502,000

shares), how much total money will it raise?

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