Webster Electrics is offering 1,500 shares of stock in a Dutch auction.The bids include: How much cash will Webster Electrics receive from selling these shares? Ignore all transaction and flotation costs.

Name: Webster Electrics is offering 1,500 shares of stock in a Dutch auction.The bids include: How much cash will Webster Electrics receive from selling these shares? Ignore all transaction and flotation costs.
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Question

Webster Electrics is offering 1,500 shares of stock in a Dutch auction.The bids include:  How much cash will Webster Electrics receive from selling these shares? Ignore all transaction and flotation costs.

Quizplus · Accepted Answer

Total cash received = 1,500 × $22 = $33,000

Webster Electrics Is Offering 1,500 Shares of Stock in a Dutch