The World Times, a publisher, has set their inventory’s price floor to $1.00. Advertiser A bids $0.89, Advertiser B bids $1.04, and Advertiser C bids $1.11. What is the outcome in a first-price auction?

(A) Advertiser B wins and pays $1.11

(B) Advertiser A wins and pays $1.04

(C) Advertiser C wins and pays $1.05

(D) Advertiser C wins and pays $1.11

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