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stump inc issues a $ 6 6 million ipo priced at $ 1 7 per share, and the offering price to the publis is $

stump inc issues a $66 million ipo priced at $17 per share, and the offering price to the publis is $22 per share. the firms legal fees, sec registration fees, and other administrative costs are $350,000. the firms stock price increases 15 percent on the first day. what is the underpricing spread

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