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The FewerSearches.Net is using a Dutch auction to do an IPO of its stock. Ten million shares are to be issued. The chart below lists

The FewerSearches.Net is using a Dutch auction to do an IPO of its stock. Ten million shares are to be issued. The chart below lists the bids and number of shares at each bid price:

Investor

Bid price per share ($)

Aggregate number of shares bid (million)

A

70

2

B

60

1

C

55

3

D

54

2

E

50

1

F

49

2

G

44

3

H

42

3

I

41

4

J

40

3

K

33

2

L

28

4

M

20

4

N

14

7

a. Who are the winning bidders? b. How much will each winning bidder pay for a share of FewerSearches.Net? c. How much of the security will be allocated to each winning bidder

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