Question: Roundtree Software is going public using an auction IPO. The firm has received the following bids Price (S) 14.20 14.00 13.80 13.60 13.40 13.20 13.00

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 (S) 14.20 14.00 13.80 13.60 13.40 13.20 13.00 Number of Shares 100,000 220,000 500,000 1,300,000 1,220,000 860,000 400,000 Assuming Roundtree would like to sell 2.12 million shares in its IPO, what will be the winning auction offer price? The price will be Sper share. (Round to the nearest cent.)

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