Question
Marine Enterprises is offering 688 shares in a Dutch auction IPO. The following bids have been received. Bidder Quantity Price A 446 32 B 822
Marine Enterprises is offering 688 shares in a Dutch auction IPO. The following bids have been received.
| Bidder | Quantity | Price |
| A | 446 | 32 |
| B | 822 | 28 |
| C | 292 | 25 |
| D | 337 | 24 |
| E | 646 | 20 |
What is the clearing price in the auction?
Answer should be formatted as a number with two decimal places (e.g. 99.99).
Step by Step Solution
3.44 Rating (154 Votes )
There are 3 Steps involved in it
Step: 1
To find the clearing price in the Dutch auction IPO we need to determine the price at which the tota...
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
