Question
Consider the following bids in an auction for a newly issued stock by SAG, inc.: Bidder Quantity Price ($) A 200 shares 120 B 300
Consider the following bids in an auction for a newly issued stock by SAG, inc.:
| Bidder | Quantity | Price ($) |
| A | 200 shares | 120 |
| B | 300 shares | 100 |
| C | 50 shares | 85 |
| D | 50 shares | 79 |
| E | 100 shares | 60 |
| F | 600 shares | 55 |
The company wants to sell 600 shares. What is the offer price?
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Financial Markets And Institutions
Authors: Anthony Saunders, Marcia Cornett
8th Edition
1264098723, 978-1264098729
