A certain stock had an initial public offering (IPO) price of $10 per share and is traded 24 hours a day. Sketch the graph of the share price over a 2-year period for each of the following cases:

a. The price increases steadily to $50 a share over the first 18 months and then decreases steadily to $25 per share over the next 6 months.

b. The price takes just 2 months to rise at a constant rate to $15 a share and then slowly drops to $8 over the next 9 months before steadily rising to $20.

c. The price steadily rises to $60 a share during the first year, at which time an accounting scandal is uncovered. The price gaps down to $25 a share and then steadily decreases to $5 over the next 3 months before rising at a constant rate to close at $12 at the end of the 2-year period.