E-Furniture used the Dutch auction system to sell its IPO. It wanted to sell 10 million shares and received the following bids from investors

. Bidder Bid Shares 1 $40

2 million 2 $37 7 million

3 $36 2 million

4 $34 10 million

19. Assuming shares were allocated on pro-rata basis. This means the successful bidders received about of the shares they asked for. A. 100% B. 110% C. 80% D. 85% E. 91%