Solutions to Chapter 1

(% return ( investment) A $5,000 7% $350 B 4,000 12% 480 C 8,000 (2% (160 D 0 23% 0 Total $17,000 $670 Average return = $670/$17,000 = 0.0394 = 3.94%. Alternatively, you can calculate average return as: c. The average return is far below the average initial return for the sample of IPOs. ................
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