Alicia placed an order with her broker to purchase 500 shares of each of three IPOs that are being released this month. Each IPO has an offer price of $16 a share. The number of shares allocated to Alicia along with the closing stock price at the end of the first day of trading for each stock, are as follows: Picture What is Alicia's total profit or loss on these three stocks as of the end of the first day of trading for each stock?

a) -$425

b) -$260

c) -$150

d) $375

e) $550

Please work out problem