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Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) Number of Shares 14.40 160,000 14.20 200,000

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

Price ($)

Number of Shares

14.40

160,000

14.20

200,000

14.00

520,000

13.80

1,150,000

13.60

1,280,000

13.40

880,000

13.20

460,000

Roundtree had previously believed it would issue

2,000,000 shares; however, if Roundtree decides to issue an extra

545,000 shares (for a total of

2,545,000 shares), how much total money will it raise?

A) Roundtree will raise a total amount of

$?

million.(Round to one decimal place.)

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