The Market Place, Inc. recently offered 5,000 shares of stock via a Dutch auction. The firm received bids as follows: 500 shares at $22.50 per share; 2,500 shares at $22.20 per share; 3,300 shares at $22 per share; and 5,500 shares at $21 per share. For simplicity assume there are no direct costs. How much will the firm receive from this auction? (Hint: determine the offer price and then multiple it by the number shares offered)

a.$110,000

b. $105,000

c. $138,600

d.$112,500

e.$247,800