The Bert Corp. and Ernie, Inc., have both announced IPOs. You place anorder for 850 shares of each IPO. One of the IPOs is underpriced by $16.50 and the other is overpriced by $7.25. 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

• $850.00
• $7,012.50
• $7,862.50
• $5,135.50
• $20,187.50