Consider a first-price auction with common values and two rational bidders with uniformly distributed signals S₁ and S₂. The true value of the object being auctioned is given by V = (S₁ + S₂)/2. If S₁ = 50 and S₂ = 70, then:

A) The value of the asset is $60.

B) Bidder 1 should bid $50.

C) Bidder 2 should bid $70.

D) Only b. and c.

E) All of the above.