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Northern Air would like to sell 2,900 shares of stock using Dutch auction underwriting. The bids...

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Finance

Northern Air would like to sell 2,900 shares of stock usingDutch auction underwriting. The bids received are: Bidder QuantityPrice A 450 $ 29.00 B 550 28.65 C 950 28.50 D 1,150 28.15 E 1,35027.95 How much will the company raise in its offer? Ignore allflotation and transaction costs.

Multiple Choice

$82,650 $84,100 $105,145 $81,635 $83,085

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Transcribed Image Text

Northern Air would like to sell 2,900 shares of stock usingDutch auction underwriting. The bids received are: Bidder QuantityPrice A 450 $ 29.00 B 550 28.65 C 950 28.50 D 1,150 28.15 E 1,35027.95 How much will the company raise in its offer? Ignore allflotation and transaction costs.Multiple Choice$82,650 $84,100 $105,145 $81,635 $83,085

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