Indigo Inc. is going public and issuing $150,000$ shares of common stock. The capital raised in the IPO will fund the company$$s proposed expansion. A Dutch auction is used to allocate shares in the Indigo IPO. The following table shows the number of shares requested by potential investors in each row.

Bids

Number of Shares Requested

Price per Share

Bidder # $150,000$ $$58$

Bidder # $2100,00056$

Bidder # $3150,00054$

Bidder # $4200,00052$

Bidder # $5250,00050$

Bidder # $6300,00048$

What should be the firm$$s IPO offer price?

$$53$

$$50$

$$56$

$$51$

$$54$