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Souris Inc. would like to issue 600,000 new shares to the public through an auction. The firm received the following five bids: Bidder A -
Souris Inc. would like to issue 600,000 new shares to the public through an auction. The firm received the following five bids: Bidder A - 325,000 shares at $71 each; Bidder B - 100,000 shares at $69 each; Bidder C - 50,000 shares at $64 each; Bidder D - 125,000 at $75 each; and Bidder E - 150,000 shares at $73 each. Assuming no transaction costs, what will be total amount of funds raised by Souris Inc.? A) $42.6 million OB) $43.8 million C) $45.0 million D) $38.4 million O E) $41.4 million
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