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The Market Place Recently Offered 5,000 Shares of Stock for Sale

Question 56

Multiple Choice

The Market Place recently offered 5,000 shares of stock for sale via a Dutch auction.The firm received bids as follows: 500 shares at $22.50; 2,500 shares at $22.20; 3,300 shares at $22; and 5,500 shares at $21.Ignoring all costs,how much will the firm receive from this auction?


A) $110,000
B) $105,000
C) $138,600
D) $112,500
E) $247,800

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