Pork King Farms would like to sell 2,600 shares of stock using a Dutch auction.The bids received are as follows: What is the total amount the issuer will receive from this auction? Ignore costs.

Question

Pork King Farms would like to sell 2,600 shares of stock using a Dutch auction.The bids received are as follows:  What is the total amount the issuer will receive from this auction? Ignore costs.

Quizplus · Accepted Answer

To calculate the total amount received from the auction, we need to multiply the number of shares sold (2,600) by the lowest winning bid price, which in this case is $33.00. Therefore, the total amount received would be: 2,600 x $33.00 = $85,800.

Pork King Farms Would Like to Sell 2,600 Shares of Stock