3. Consider a company that sells 100,000 shares of stock in an IPO. The issue price is $26 per share. At the market close on the first day of trading the stock price is $32. a a. What is the percentage underpricing (i.e. first day return) of the IPO? a.-2311 b. Provide two potential reasons for why this may have happened? O Creste" ma eting b Sell the Shaesener You hold a portfolio of 3 stocks, A, B, and C. You purchase the given number of shares atay timeT-oand sell all the shares you own at time T=2.stock pays a dividendofS1-dNg between T and T-2. Stock C has a 2:1 split between Ts] and T-2. 4. Pnzu T-b 2