ABC Company is listed on the stock exchange through an open price offer (Dutch Auction). The investment bank in charge of the operation received the following purchase orders:

a) What will be the introductory price if the offer is for 500,000 shares of ABC?

b) At the price determined in a), will all investor demand at this price be satisfied? If not, what percentage will be satisfied?

c) How much money will ABC raise through its IPO?

\begin{tabular}{|c|c|} \hline Price per share (in \$) & Number of shares requested \\ \hline 33.8 & 115000 \\ \hline 34.5 & 120000 \\ \hline 35.5 & 70000 \\ \hline 36 & 230000 \\ \hline 39 & 40000 \\ \hline 38.2 & 15000 \\ \hline 38 & 90000 \\ \hline 37 & 65000 \\ \hline 36.5 & 140000 \\ \hline 37.5 & 115000 \\ \hline 35 & 115000 \\ \hline 38.5 & 15000 \\ \hline 34 & 140000 \\ \hline \end{tabular}