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Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) 14.80 14.60 14.40 14.20 14.00 13.80 13.60

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Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) 14.80 14.60 14.40 14.20 14.00 13.80 13.60 Number of Shares 160,000 260,000 540,000 1,000,000 1,240,000 800,000 440,000 Assuming Roundtree would like to sell 1.96 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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