Chapter 3, Problem 45E

Five heirs ( $A, B, C, D$, and $E$) are dividing an estate consisting of six items using the method of sealed bids. The heirs' bids on each of the items are given in Table $3-24$.

Table $3-24$

	A	B	C	D	E
Item 1	$\$352$	$\$295$	$\$395$	$\$368$	$\$324$
Item 2	$\$98$	$\$102$	$\$98$	$\$95$	$\$105$
Item 3	$\$460$	$\$449$	$\$510$	$\$501$	$\$476$
Item 4	$\$852$	$\$825$	$\$832$	$\$817$	$\$843$
Item 5	$\$513$	$\$501$	$\$505$	$\$505$	$\$491$
Item 6	$\$725$	$\$738$	$\$750$	$\$744$	$\$761$

a. Find the value of each player's fair share.

b. Describe the first settlement (who gets which item and how much do they pay or get in cash).

c. Find the surplus after the first settlement is over.

d. Describe the final settlement (who gets which item and how much do they pay or get in cash).