Reference no: EM132964391

Lakeside Industrial has decided to sell an additional 1,800 shares of stock through a Dutch auction. The bids that the company receives include:

Bidder               Quantity                Price ($)

A                     1100                   37
B                     300                    36
C                   500                     35
D                 1400                     34
E                    900                   33

Problem 1: How much will Lakeside Industrial receive in total from selling the additional 1,800 shares? Ignore all transaction and flotation costs.

Multiple Choice

Option 1: $66,600
Option 2: $65,500
Option 3: $59,400
Option 4: $63,000
Option 5: $61,200