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Knickerbocker Inc. is issuing shares through a Dutch Auction. They will auction 8,000,000 shares in the issue. They have recelved six sealed bids. The results,

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Knickerbocker Inc. is issuing shares through a Dutch Auction. They will auction 8,000,000 shares in the issue. They have recelved six sealed bids. The results, sorted by bid price, are shown below. What marginal price will the shares sell at in the Dutch Auction? (Present your answer in dollars to 2 decimal places, e.9. 17.87.) Numeric Response

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