The Cookie Co.would like to sell 1,000 shares of stock using the Dutch auction method.The bids received are as follows: Bidder A: 200 shares at $41;Bidder B: 400 shares at $39: Bidder C: 500 shares at $38;and Bidder D: 700 shares at $37.What will be the gross proceeds from this auction?
A) $37,000
B) $41,000
C) $39,000
D) $40,000
E) $38,000
Correct Answer:
Verified
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