Please show your work in Microsoft Excel.

Below is a sample problem for reference.

20. Your investment bankers price your IPO at $15.43 per share for 9.7 million shares. If the price at the end of the first day of trading is $16.82 per share, a. what was the percentage underpricing? b. how much money did the firm miss out on due to underpricing? a. what was the percentage underpricing? As a percent of the offering price, the underpricing is \%. (Round to one decimal place.) b. how much money did the firm miss out on due to underpricing? The forgone money will be $ million. (Round to one decimal place.) Your investment bankers price your IPO at $16.50 per share for 12.0 million shares. If the price at the end of the first day of trading is $18.30 per share, a. what was the percentage underpricing? b. how much money did the firm miss out on due to underpricing? a. what was the percentage underpricing? The underpricing is the difference between the price at the end of the first day of trading and the IPO price: Underpricing=$18.30$16.50=$1.80 As a percent of the offering price, the underpricing is: PercentageofUnderpricing=IPOPriceUnderpricing Therefore, PercentageofUnderpricing=$16.50$1.80=10.9% b. how much money did the firm miss out on due to underpricing? To determine the amount of the forgone money, use the following formula: ForgoneMoney=UnderpricingNumberofShares Therefore, Forgone Money =$1.80 per share 12.0 million shares =$21.6 million