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Northern Air would like to sell 2,500 shares of stock using Dutch auction underwriting. The bids received are: Bidder Quantity A 350 B 450 850
Northern Air would like to sell 2,500 shares of stock using Dutch auction underwriting. The bids received are: Bidder Quantity A 350 B 450 850 D 1,050 E 1,250 Price $28.90 28.55 28.40 28.05 27.85 How much will the company raise in its offer? Ignore all flotation and transaction costs. Multiple Choice O $87,775 $70,125 O $72,250 O O $71,375 $71,000
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