Zebra Stripes would like to sell 500 shares of stock using the Dutch auction method.The bids received are as follows: Bidder A: 100 shares at $26;Bidder B: 300 shares at $25: Bidder C: 200 shares at $25;and Bidder D: 500 shares at $24.What will be the gross proceeds from this auction?
A) $27,100
B) $13,000
C) $12,500
D) $14,600
E) $12,000
Correct Answer:
Verified
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