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A firm has an IPO with an IPO price of $25 per share. On the first trading day, the shares open at $32.77 and close

A firm has an IPO with an IPO price of $25 per share. On the first trading day, the shares open at $32.77 and close at $26.53. The next day, they open at $30.36. After one week, they trade at $47. Calculate the IPO's underpricing in percentage terms.

Please round to two decimals. That is, if the answer is 43.2783%, then enter 43.28.

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