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Northern Air would like to sell 3,300 shares of stock using Dutch auction underwriting. The bids received are: Bidder Quantity Price $29.15 A 600 28.80

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Northern Air would like to sell 3,300 shares of stock using Dutch auction underwriting. The bids received are: Bidder Quantity Price $29.15 A 600 28.80 700 28.65 1,100 1,300 1,500 28.30 28.10 How much will the company raise in its offer? Ignore all flotation and transaction costs. Multiple Choice $93,390 $96,195 $94,545 $95,040 $125.765 OE

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