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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

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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. Number of Shares Price per Bids Bidder # 1 Bidder # 2 Bidder # 3 Bidder # 4 Bidder # 5 Bidder # 6 Requested 50,000 100,000 150,000 200,000 250,000 300,000 Share $65 $63 $61 $59 $57 $55 What should be the firm's IPO offer price? O $61 O $54 O $56 O $57 O $63

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