The Cookie Co.would like to sell 500 shares of stock using the Dutch auction method.The bids received were Bidder A,200 shares at $40;Bidder B,300 shares at $39;Bidder C,500 shares at $38;and Bidder D,400 shares at $37.What will be the gross proceeds from this auction?
A) $19,700
B) $19,200
C) $19,000
D) $20,000
E) $19,500
Correct Answer:
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