Spring Aire is attempting to sell 600 shares of stock via a Dutch auction.The bids received were Bidder A,200 shares at $47;Bidder B,300 shares at $46;Bidder C,600 shares at $45;and Bidder D,500 shares at $43.How many shares will Bidder A be able to purchase?

Question

Quizplus · Accepted Answer

To sell 600 shares,the offer price will be $45 a share at which a total of 1,100 shares are offered by Bidders A,B,and C.
Bidder A's allocation = (600 / 1,100)× 200 = 109 shares

Spring Aire Is Attempting to Sell 600 Shares of Stock