Question: Note: 0 is not correct for the answer. Problem 7 Intro A new company is offering its shares for sale in an initial public offering

Note: 0 is not correct for the answer.

Problem 7 Intro A new company is offering its shares for sale in an initial public offering (IPO) through an auction. There is a 50% probability that the company will be very successful, in which case each share is worth $36. Otherwise, each share is worth $0. You are competing with professional investors such as hedge funds that know if the company will be successful or not. | Attempt 3/3 for 6 pts. Part 1 If you bid $18 per share, what is your expected return? 2+ decimals Submit

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