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 Bidder # 1 Number of Shares Requested 50,000 Price per Share $58 Bidder #2 100,000 56 Bidder # 3 150,000 54 Bidder # 4 200,000 52 Bidder # 5 250,000 50 Bidder # 6 300,000 48 What should be the firm's IPO offer price? Activate Windows