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my investment record is as follows: IPO A B D Shares Allocated to Me 520 220 1,020 0 Price per Share $ 12 20 10

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my investment record is as follows: IPO A B D Shares Allocated to Me 520 220 1,020 0 Price per Share $ 12 20 10 15 Initial Return 78 12 - 1 20 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.) Average initial return : %

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