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Newton Water Works would like to sell 500 shares of stock using a Dutch auction. The bids received were Bidder A, 100 shares at $26;
Newton Water Works would like to sell 500 shares of stock using a Dutch auction. The bids received were Bidder A, 100 shares at $26; Bidder B, 300 shares at $25; Bidder C, 200 shares at $25; Bidder D, 500 shares at $24; and Bidder E, 800 shares at $22. Bidder D will be able to purchase _____ shares at total cost of ____. Assume allocated shares are rounded to the nearest whole share.
O 500; $24
O 500; $25
O 227; $5,675
O 0; $0
O 227; $5,448
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