WAC Inc. is going public and issuing 500,000 shares of common stock. The capital raised in the IPO will fund the company's proposed expansion. A Dutch auction is used to allocate shares in the WAC IPO. The following table shows the number of shares requested by potential investors in each row. Bids Price per Share Bidder 31 $60 Bidder #2 Number of Shares Requested 50,000 100,000 150,000 200,000 250,000 300,000 $58 $56 Bidder #3 Bidder #4 $54 Bidder 5 $52 Bidder 6 $50 What should be the firm's IPO offer price? $56 $54 553 $55 Grade It Now Save & Continue Continue without saving ORA D HD