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Luther Industries is in the process of selling shares of stock in an auction IPO.At the end of the bidding period,Luther's investment bank has received the following bids:
-What will the offer price of these shares be if Luther is selling 1 million shares?

Question

Use the information for the question(s)below.
Luther Industries is in the process of selling shares of stock in an auction IPO.At the end of the bidding period,Luther's investment bank has received the following bids: 
-What will the offer price of these shares be if Luther is selling 1 million shares?

Quizplus · Accepted Answer

To determine the offer price, we need to find the highest bid that will allow Luther to sell 1 million shares. The highest bid that satisfies this condition is $17.25, which comes from Bidder D. Therefore, the offer price will be $17.25.

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