The bidders in a Dutch auction are as follows:

Bidder Number of Shares Price A 60,000 $50.00 B 20,000 $80.00 C 30,000 $55.00 D 40,000 $38.00 E 40,000 $42.00 F 40,000 $42.00 G 50,000 $35.00 H 50,000 $60.00 The number of shares being auctioned is 210,000. What is the price paid by investors? How many shares does each investor receive?

AppendixLO1