Question: Kim placed an order with her broker for 500 shares of each of three IPOs being offered this week. Each of the IPOs has an

Kim placed an order with her broker for 500 shares of each of three IPOs being offered this week. Each of the IPOs has an offer price of $26. The number of shares allocated to Kim along with the closing prices on the first trading day are: Shares Stock Allocated 600 B 490 c 220 Price $25.15 29.86 32.43 What is Kim's total profit on these three stocks at the end of the first day of trading? Multiple Choice $5,664.00 $2796.00

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Given the following: 30-Day billing cycle and 1.5% interest charge per month. 9/1 Balance $1,500. 9/8 Charge $300. 9/20 Payment $1,000. The average daily balance on 10/01 is; None of these $1,366.67...

Kim placed an order with her broker for 500 shares of each of three IPOs being offered this week. Each of the IPOs has an offer price of $26. The number of shares allocated to Kim along with the...

Kim placed an order with her broker for 500 shares of each of three IPOs being offered this week. Each of the IPOs has an offer price of $22. The number of shares allocated to Kim along with the...

Kim placed an order with her broker for 500 shares of each of three IPOs being offered this week. Each of the IPOs has an offer price of $29. The number of shares allocated to Kim along with the...

21 Kim placed an order with her broker for 500 shares of each of three IPOs being offered this week. Each of the IPOs has an offer price of $29 The number of shares allocated to Kim along with the...

. O $2,575.90 O $3,165.45 O $2,943.90 O $1,339.60 C $3,755.00. Kim placed an order with her broker for 500 shares of each of three IPOs being offered this week. Each of the IPOs has an offer price...

Kim placed an order with her broker for 700 shares of each of three IPOs being offered this week. Each of the IPOs has an offer price of $26. The number of shares allocated to Kim along with the...

Kim placed an order with her broker for 750 shares of each of three IPOs being offered this week. Each of the IPOs has an offer price of $24. The number of shares allocated to Kim along with the...

Kim placed an order with her broker for 650 shares of each of three IPOs being offered this week. Each of the IPOs thas an offer price of \$25. The number of shares allocated to Kim along with the...

Kim placed an order with her broker for 600 shares of each of three IPOs being offered this week. Each of the IPOs has an offer price of $26. The number of shares allocated to Kim along with the...

In what ways is Birchboxs business approach a win-win for both its suppliers and its customers?

The adjusted trial balance for Zhang Corporation at the end of the current year contained the following accounts. Bond Interest Payable ....... HK$ 9,000 Lease Liability .......... 89,500 Bonds...

a . Verify that the following vector field i s conservative. Show work. vec ( F ) ( x , y ) = ( 1 2 x 2 y + 2 e x ) i + ( 4 x 3 - c o s y ) j b . Find a potential function for this vector field,...

The trial balance of Runway Fashion Center contained the accounts on the next page at November 30, the end of the company??s fiscal year. Adjustment data:1. Store supplies on hand total $3,100.2....

Do you think Adam Lee should develop a strategic plan for the company? Why? What are the central elements of such a plan? What is the role of finance in a strategic plan?

Three different plans for financing a $200,000,000 corporation are under consideration by its organizers. Under each of the following plans, the securities will be issued at their par or face amount,...

(Permanent and Temporary Differences, One Rate) The accounting records of Shinault Inc. show the following data for 2010. 1. Life insurance expense on officers was $9,000. 2. Equipment was acquired...

Previn Brothers Inc. purchased land at a price of $27,000. Closing costs were $1,400. An old building was removed at a cost of $10,200. What amount should be recorded as the cost of the land?

With examples and based on extensive class discussions please describe your understanding (new knowledge) of the following two terminologies: a. Profit Sharing b. Gain Sharing

6. Give an example of how the liking principle can be used to influence others.

5. Give an example of how the consensus principle can be used to influence others.

9. Give an example of how the word because can trigger a cognitive reflex in another party.