Similar to the example given in class, assume that you are an uninformed investor and place orders to buy 100 shares of all IPOs that come on the market. The offer price for all IPOs is $10 per share. Assume that half of IPOs are "high-valued" and are worth $18 per share while the other half of IPOs are "low-valued" and are worth only $7 per share. Because the high-valued IPOs are oversubscribed, you are only allocated 32% of your 100 share orders (i.e., 32 shares). However, the low-valued IPOs are undersubscribed. Therefore, you are allocated 100% of your 100 share order (i.e., 100 shares) for these low-valued IPOs. What is your expected return from your investments in IPOs?