Flip" shares 1 Three companies went public last month with initial public offerings (IPO). The offer price and first day closing price are shown below for the three firms. An investor was able to purchase 100 shares of each company at the offer price and then "flip" the shares at the end of the day for the full return. Stock A B C Offer Price $10 $80 $40 Closing Price $12.50 $96.00 $55 Refer to "Flip" shares 1. What was the return on this investment at the end of the first day? (Ignore any tax implications for this question) 23.1% O 25.8% 27.5% 29.1%