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The Bert Corp. and Ernie, Inc., have both announced IPOs. You place an order for 1,000 shares of each IPO. One of the IPOs is

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The Bert Corp. and Ernie, Inc., have both announced IPOs. You place an order for 1,000 shares of each IPO. One of the IPOs is underpriced by $17.25 and the other is overpriced by $8.00. You will receive all of the shares you ordered of the overpriced IPO, but only one-half of the shares you ordered of the underpriced IPO. What profit do you expect? Multiple Choice $9,250.00 $25,250.00 $625.00 $8,625.00

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