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Zoogle set $25-$30 as the initial filing range for their IPO. They then performed a road show and set the offer price at $35. The

Zoogle set $25-$30 as the initial filing range for their IPO. They then performed a road show and set the offer price at $35. The Zoogle share was trading at $41.30 at the end of the first day. What was the level of underpricing for the first day?

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