Use the Information for the Question(s) Below -What Will the Offer Price of These Shares Be If

Use the information for the question(s) below.
Luther Industries is in the process of selling shares in an auction IPO. At the end of the bidding period, Luther's investment
bank has received the following bids:
$\begin{array} { l r } \hline \text { Price (\$) } & \begin{array} { c } \text { Number of } \\\text { Shares Bid }\end{array} \\\hline \$ 19.50 & 50,000 \\\hline \$ 19.25 & 25,000 \\\hline \$ 19.10 & 25,000 \\\hline \$ 19.00 & 100,000 \\\hline \$ 18.75 & 125,000 \\\hline \$ 18.50 & 75,000 \\\hline \$ 18.25 & 150,000 \\\hline \$ 18.00 & 240,000 \\\hline \$ 17.75 & 80,000 \\\hline \$ 17.50 & 125,000 \\\hline \$ 17.25 & 150,000 \\\hline \$ 17.00 & 100,000 \\\hline \$ 16.90 & 60,000 \\\hline \$ 16.75 & 80,000 \\\hline \$ 16.50 & 75,000 \\\hline \$ 16.25 & 200,000 \\\hline\end{array}$
-What will the offer price of these shares be if Luther is selling 1 million shares?

A) $17.50
B) $16.75
C) $17.25
D) $17.00