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2. Dutch auction: Bidder's information is as below: Bidder Number of shares Price 70,000 $ 45.00 8 40,000 $50.00 20,000 $47.00 D 50,000 $52.00 E
2. Dutch auction: Bidder's information is as below: Bidder Number of shares Price 70,000 $ 45.00 8 40,000 $50.00 20,000 $47.00 D 50,000 $52.00 E 30,000 $75.00 F 60,000 $47.00 G 20,000 $57.00 H 50,000 $60.00 The number of shares being auctioned is 220,000. What is the price paid by investors? How many shares does each investor receive? (Hint: If it ties, shares will be distributed among bidders equally) (8)
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