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Suppose a firm wants to sell shares to new investors in an IPO process using the dutch auction method. The firm asks an investment
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. # of Shares Share Price Bids 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 How many shares will be allotted to Bidder #6? Enter your answer in the following format: 123,456
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To determine the number of shares that will be allotted to Bidder 6 we need to follow the Dutch auct...Get Instant Access to Expert-Tailored Solutions
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