Question $1$

I. ABC Corporation announced that it will pay a dividend to all shareholders of record as of Monday, April $2,2012.$ It takes three business days of a purchase for the new owners of a share of stock to be registered. $(6$ marks$)$

a$.$ When is the last day an investor can purchase ABC stock and still get the dividend payment?

b$.$ When is the ex$-$dividend day?

II$.$ Roundtree Software is going public using an auction IPO. The firm has received the following bids:

Assuming Roundtree would like to sell $1\mathrm{.}92$ million shares in its IPO, what will the winning auction offer price be$?(8$ marks$)$

$\backslash$table$[[$Price $($$$),$Number of shares$],[14\mathrm{.}80,160,000],[14\mathrm{.}60,260,000],[14\mathrm{.}40,500,000],[14\mathrm{.}20,1,000,000$