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PLEASE HELP! 1. 10) Luther Industries is in the process of selling shares...

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Accounting

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10) Luther Industries is in the process of selling shares of stock in an auction IPO. At the end of the bidding period, Luther's investment bank has received the following bids: Price ($) Number of Shares Bid $19.10 90,000 $19.00 115,000 $18.75 120,000 $18.50 75,000 $18.25 150,000 $18.00 240,000 $17.75 80,000 $17.50 125,000 $17.25 150,000 $17.00 100,000 $16.90 60,000 What will the offer price of these shares be if Luther is selling 1 million shares? $16.90 $17.25 $17.50 $19.10

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