Question: Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) Number of Shares 14.20 180,000 14.00 280,000

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

Price ($)

Number of Shares

14.20

180,000

14.00

280,000

13.80

500,000

13.60

1,150,000

13.40

1,240,000

13.20

880,000

13.00

420,000

Roundtree had previously believed it would issue 2,100,000 shares; however, if Roundtree decides to issue an extra 534,000 shares (for a total of 2,634,000 shares), how much total money will it raise?

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