Frank Enstein is the CEO of a private medical equipment company that is proposing to sell 121,000 shares of its stock in an open auction. Suppose the company receives the bids in the following table.
Shares | Price | |||
23,000 | $ | 86 | ||
13,000 | 84 | |||
18,000 | 79 | |||
28,000 | 76 | |||
13,000 | 75 | |||
11,000 | 73 | |||
17,000 | 72 | |||
18,000 | 71 | |||
33,000 | 67 | |||
What is the maximum price at which the company can sell its stock?
Frank Enstein is the CEO of a private medical equipment company that is proposing to sell...
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