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Having heard about IPO underpricing, I put in an order to my broker for 1 , 1 6 0 shares of every IPO he can

Having heard about IPO underpricing, I put in an order to my broker for 1,160 shares of every IPO he can get for me. After 3 months, my
investment record is as follows:
a. What is the average underpricing in dollars of this sample of IPOs? (Do not round intermediate calculations. Round your answer to
2 decimal places.)
Average underpricing
b. What is the average initial return on my "portfolio" of shares purchased from the four IPOs that I bid on? When calculating this
average initial return, remember to weight by the amount of money invested in each issue. (Do not round intermediate calculations.
Enter your answer as a percent rounded to 1 decimal place.)
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