LC Delivery has decided to sell 1,500 shares of stock through a Dutch auction. The bids received are as follows:300 shares at $36 a share,
LC Delivery has decided to sell 1,500 shares of stock through a Dutch auction. The bids received are as follows:300 shares at $36 a share, 500 shares at $35, 1,000 shares at $34, 1,200 shares at $33, and 1,800 shares at $32 a share. How much will LC Delivery receive in total from selling the 1,500 shares? Ignore all transaction and flotation costs.
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Authors: Anthony Saunders, Marcia Cornett
7th Edition
1259919714, 978-1259919718
