13. The FewerSearches.Net company is using a Dutch auction to do an IPO of its stock. Ten million shares are to be issued. The table below lists the bids and number of shares at each bid price:

a. Who are the winning bidders?

b. How much will each winning bidder pay for a share of FewerSearches.Net?

c. How much of the security will be allocated to each winning bidder?

d. How much will FewerSearches.Net receive in proceeds before fees are paid?

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Investor Bid Price per Share ($) Aggregate Number of Shares Bid A 70.00 2,000,000 B 60.00 1,000,000 C 55.00 3,000,000 D 54.00 2,000,000 E 50.00 1,000,000 F 49.00 2,000,000 G 44.00 3,000,000 H 42.00 3,000,000 I 41.00 4,000,000 J 40.00 3,000,000 K 33.00 2,000,000 L 28.00 4,000,000 N ZZ M 20.00 4,000,000 14.00 7,000,000