You wish to calculate the average amount of under-pricing, for 3 recent IPOs. ABC Inc's offer price was $41.90. The ABC's closing price on the first day of trading was $32.70. DEF Inc's offer price was $58.30. DEF's closing price on the first day of trading was $73.80. GHI had an offer price of $19.90 and its closing price on the first day of trading was $23.20. For these 3 stock issues what was the average 1 day return on the first day of trading? Your answer should be shown as a percentage and it should be accurate to two decimal places.

Answer is 7.07 but we keep getting 5.89%