A company is in the process of selling shares of stock in an auction IPO. At the end of the bidding period, the companys investment bank has received the following bids: Price ($) Number of Shares Bid $19.50 50,000 $19.25 25,000 $19.10 25,000 $19.00 100,000 $18.75 125,000 $18.50 75,000 $18.25 150,000 $18.00 240,000 $17.75 80,000 $17.50 125,000 $17.25 150,000 $17.00 100,000 What will the offer price of these shares be if the company is selling 800,000 shares?

Can you please explain how did you get the answer for that one