when a company issues stock or shares to the public for the first time, it is reterred to as Initial Public Offering performance when the demand for an initial public offering (IPO) of securities exceeds the number of securities issued, the offering is deemed to be: O Undersubscribed oversubscribed 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. Number of shares Price per Requested Share Bids Bidder # 1 Bidder # 2 Bidder # 3 Bidder # 4 Bidder # 5 Bidder # 6 s0,000 100,000 150,000 200,000 250,000 300,000 $60 $58 $56 $54 $52 $50 what should be the firm's IPO offer price? O $53 O $52 O $55 O $54