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Frank Enstein is the CEO of a private medical equipment company that is proposing to sell 124,500 shares of its stock in an open auction.
Frank Enstein is the CEO of a private medical equipment company that is proposing to sell 124,500 shares of its stock in an open auction. Suppose the company receives the bids in the following table.
Shares | Price | ||||
23,500 | $ | 87 | |||
13,500 | 85 | ||||
18,500 | 80 | ||||
28,500 | 77 | ||||
13,500 | 76 | ||||
11,500 | 74 | ||||
17,500 | 73 | ||||
18,500 | 72 | ||||
33,500 | 68 | ||||
What is the maximum price at which the company can sell its stock?
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