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Northern Air would like to sell 2,700 shares of stock using Dutch auction underwriting. The bids received are: Bidder Quantity 400 500 900 1,100 1,300

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Northern Air would like to sell 2,700 shares of stock using Dutch auction underwriting. The bids received are: Bidder Quantity 400 500 900 1,100 1,300 Price S28.95 28.60 28.45 28.10 27.90 How much will the company raise in its offer? Ignore all flotation and transaction costs. Multiple Choice $96,445 $78,165 $75,870 S76,815 S77220

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