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TEDA Inc. is in the process of selling 250,000 shares of stock in auction IPO. At the end of the bidding period, TEDA's investment bank

TEDA Inc. is in the process of selling 250,000 shares of stock in auction IPO. At the end of the bidding period, TEDA's investment bank has received the following bids: Bidder Quantity Price A 80,000 $19.90 B 100,000 $19.75 C 50,000 $19.50 D 70,000 $19.45 E 35,000 $19.15 F 25,000 $18.75 a. What will be the offer price of these shares? b. How many shares A, B, C, D, E and F each could be allocated?

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