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Needed in dollars, NOT % Having heard about IPO underpricing, I put in an order to my broker for 1,130 shares of every IPO he

image text in transcribed Needed in dollars, NOT %
Having heard about IPO underpricing, I put in an order to my broker for 1,130 shares of every IPO he can get for me. After 3 months, my investment record is as follows: IPO Shares Allocated to Me 630 330 1.130 Price per Share $ 13 20 11 14 Initial Return 6% 11 20 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

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