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Suppose Petroxy Oil Co. is going public and, based on the bookbuilding process, decides it...

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Suppose Petroxy Oil Co. is going public and, based on the bookbuilding process, decides it will be issuing 750 , 000 shures of common stock to raise capital to fund the company's proposed expansion. Suppose a Dutch auction (an auction in which the auctioneer begins with a high asking price and lowers it unthl some bidder accepts the price) is used to allocate shares in the Petroxy Oil Co. IPO. The following table shows the number of shares requested by potential bidders. To sell the 750,000 shares, Petroxy Oul Co. SPO minimum offer price should be The total amnunt of funding raised will be: Given the typucal 7 percent transaction cast due to the issuing firm, the IPO would result in a transaction cost of

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