You have been instructed to place an order for a client to purchase 500 shares of every IPO that comes to market. The next two IPOs are each priced at $26 per share and will begin trading on the same day. The client is allocated 500 shares of IPO A and 240 shares of IPO B. At the end of the first day of trading, IPO A was selling for $23.90 per share and IPO B was selling for $29.40 per share. What is the client's total profit or loss on these two IPOs as of the end of the first day of trading? Multiple Choice $286 $234 $148 $275 $329