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Luther Industries is in the process of raising new funds via a Dutch auction. They would like to sell 400 shares to the public.

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Luther Industries is in the process of raising new funds via a Dutch auction. They would like to sell 400 shares to the public. Luther industries has received the following five bids: Bidder A Quantity 100 Price $13.00 B 200 $15.00 C 100 $16.00 D E 200 $14.00 50 $12.00 a) What would be the offering price of the new shares if the company is to achieve its goal of selling 400 shares? (2pt) b) How much money will Luther Industries be able to raise through the Dutch auction? (1pt) c) How many shares will bidders A, B, C, D, and E receive? (5pts)

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