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MC algo 15-8 IPO Underpricing Kim placed an order with her broker for 600 shares of each of three IPOs being offered this week. Each

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MC algo 15-8 IPO Underpricing Kim placed an order with her broker for 600 shares of each of three IPOs being offered this week. Each of the IPOs has an offer price of $28. The number of shares allocated to Kim along with the closing prices on the first trading day are: Shares Stock Allocated 600 410 340 Price $27.15 31.86 34.43 Book What is Kim's total profit on these three stocks at the end of the first day of trading? Multiple Choice $3,258.80

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