How much money will round tree raise? Example of their method below. DIFFERENT NUMBERS. Wrong answers will be reported. Thank you! Roundtree Software is going public using an auction IPO. The firm has received the following bids Price ($) 14.40 14.20 14.00 13.80 13.60 13.40 13.20 Number of Shares 100,000 240,000 500,000 1,100,000 1,300,000 800,000 400,000 Roundtree had previously believed it would issue 1,900,000 shares; however, if Roundtree decides to issue an extra 534,000 shares (for a total of 2,434,000 shares), how much total money will it raise? Roundtree will raise a total amount of $million. (Round to one decimal place.) Example of their method. Different Numbers First, compute the cumulative total number of shares demanded at or above any given price to find the winning price. Then use the winning price and the total number of shares to find the total amount raised. Price ($)Cumulative Demand 14.40 14.20 14.00 13.80 13.60 13.40 13.20 125,000 390,000 935.000 2,060,000 3,275,000 4,105,000 4,555,000 Number of Shares-125,000 + 390,000 + 935,000 + 2,060,000-3,275,000 Therefore the winning price should be $13.60 because investors have placed orders for a total of 2,580,000 shares at a price of $13.60 or higher. Roundtree will raise a total amount of $13.60x 2,580,000 shares- $35.1 million