Suppose a firm wants to sell shares to new investors in an IPO process using the dutch auction method. The firm asks an investment bank to get investor bids to sell a total of 950,000 shares. The bids received are provided in the table below.

Bids	# of Shares	Share Price
Bidder #1	50,000	$57
Bidder #2	100,000	$55
Bidder #3	150,000	$53
Bidder #4	200,000	$51
Bidder #5	250,000	$49
Bidder #6	300,000	$47

At what price, all shares will be allotted in the IPO process? Enter your answer in the following format: $12