Amount by which new bids must rise at an auction

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1. The first letter of the answer for Amount by which new bids must rise at an auction puzzle is: I

I
 
 
 
 
 
 
 
 

2. The last letter of the answer for Amount by which new bids must rise at an auction puzzle is: T

 
 
 
 
 
 
 
 
T

3. The answer to Amount by which new bids must rise at an auction is:

I
N
C
R
E
M
E
N
T
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