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Margoles Publishing recently completed its IPO. The stock was offered at $13.16 per share. On the first day of trading, the stock closed at $18.04

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Margoles Publishing recently completed its IPO. The stock was offered at $13.16 per share. On the first day of trading, the stock closed at $18.04 per share. a. What was the initial return on Margoles? b. Who benefited from this underpricing? Who lost, and why? a. What was the initial return on Margoles? The initial return was %. (Round to one decimal place.)

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