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Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) Number of Shares 14.80 120,000 14.60 220,000

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Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) Number of Shares 14.80 120,000 14.60 220,000 14.40 520,000 14.20 14.00 13.80 13.60 1,100,000 1,240,000 820,000 420,000 Roundtree had previously believed it would issue 2,000,000 shares; however, if Roundtree decides to issue an extra 518,000 shares (for a total of 2,518,000 shares), how much total money will it raise? Roundtree will raise a total amount of $ www million. (Round to one decimal place)

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