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Spencer and Ames would like to sell an additional 600 shares of stock. Management has decided to use a Dutch auction. The bids received are

Spencer and Ames would like to sell an additional 600 shares of stock. Management has decided to use a Dutch auction. The bids received are as follows: Bidder Quantity Price A 100 $27 B 200 $25 C 500 $24 D 700 $23 Bidder B will receive _____ shares at a price of _____ each. Select one:

a. 150; $24

b. 150; $25

c. 160; $25

d. 200; $25

e. 200; $24

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