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P 14-7 (similar to) Roundtree Software is going public using an auction IPO. The firm has received the following bids Price (S) 14.80 14.60 14.40

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P 14-7 (similar to) Roundtree Software is going public using an auction IPO. The firm has received the following bids Price (S) 14.80 14.60 14.40 14.20 14.00 13.80 13.60 Number of Shares 120,000 260,000 500,000 1,300,000 1,260,000 800,000 400,000 Assuming Roundtree would like to sell 2.18 million shares in its IPO, what will be the winning auction offer price? The price will be per share. (Round to the nearest cent.)

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