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The Bert Corp. and Ernie, Inc., have both announced IPOs. You place an order for 250 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 250 shares of each IPO. One of the IPOs is underpriced by $13.50 and the other is overpriced by $4.25. 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 $1,510.50 $1,687.50 $625.00 $4,437,50 $2.312.50

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