Danielle placed an order with her broker to purchase 400 shares of each of three IPOs that are being released this month. Each IPO has an offer price of $22 a share. She received allocations of 320 shares of A, 0 shares of B, and 400 shares of C. On their respective first days of trading, Stock A closed at $23 a share, Stock B closed at $39 a share, and Stock C closed at $17 a share. What is her combined total first-day profit or loss on these three IPOs?

Multiple Choice

• $1,680

• $780

• $5,200

• $1,020

• $1,220