In: Finance
Northern Air would like to sell 2,900 shares of stock using Dutch auction underwriting. The bids received are: Bidder Quantity Price A 450 $ 29.00 B 550 28.65 C 950 28.50 D 1,150 28.15 E 1,350 27.95 How much will the company raise in its offer? Ignore all flotation and transaction costs.
Multiple Choice
$82,650 $84,100 $105,145 $81,635 $83,085