The Bert Corp. and Ernie, Inc., have both announced IPOs. You place an order for 1,400 shares of each IPO. One of the IPOs is underpriced by $19.25 and the other is overpriced by $7.75. 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

• $8,458.25

• $16,100.00

• $37,800.00

• $13,475.00

• $2,625.00