Kent, Serena, Lorma, and Gladys inherit a stamp collection. Each would like to keep the collection and pass it along to his or her children. They make the following bids. Kent’s bid is $20,000, Serena’s bid is $18,500, Lorma’s bid is $21,500, Gladys’ bid is $19,000. Carry out the method of sealed bids to assign the stamp collection and monetary compensation.
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