Suppose a firm wishes to sell $100,000$ shares and uses a Dutch auction method to sell those shares. The following bids are received:

$$32$ for $20,000$ shares

$$28$ for $25,000$ shares

$$24$ for $40,000$ shares

$$18$ for $15,000$ shares

$$16$ for $15,000$ shares

$$15$ for $50,000$ shares

$$14$ for $50,000$ shares

What is the result?

The firm sells $100,000$ shares for $$15$ per spare.

The firm sells $100,000$ shares for $$18$ per share.

The firm sells $20,000$ shares for $$32$ per share; $25,000$ shares for $$28$ per share; $40,000$ shares for $$24$ per share; and $15,000$ shares for $$18$ per share.

The firm sells $215,000$ shares for $$14$ per share.