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Pro Shipping Inc. is selling 10,500 shares of stock through a Dutch auction. The bids received are as follows: Bidder Quantity Price A 1200 $104
Pro Shipping Inc. is selling 10,500 shares of stock through a Dutch auction. The bids received are as follows:
Bidder | Quantity | Price |
A | 1200 | $104 |
B | 2800 | $95 |
C | 5000 | $88 |
D | 5000 | $72 |
E | 11000 | $50 |
Which of the following statements is true:
A. bidder A pays $104 for each share he gets
B. bidder C pays $88 for each share he gets
C. bidder A gets 1200 shares
D. bidder D gets 3750 shares
E. Pro Shipping Inc. receives $1,008,000 in total from this issuance
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