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19. Dutch Auctions (L01, CFA1) Escambia Beach Systems is offering 1,000 shares in a Dutch auction IPO. The following bids have been received: Bidder Price

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19. Dutch Auctions (L01, CFA1) Escambia Beach Systems is offering 1,000 shares in a Dutch auction IPO. The following bids have been received: Bidder Price Quantity 400 A $20 B 400 19 300 18 D 200 17 How much will Bidder A have to spend to purchase all of the shares that have been allocated to her

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