Problem 13.20 On August 19, 2004, Google completed its IPO of 19.80 million shares to the initial investors at $84.40 per share. The closing price of…

Problem 13.20

On August 19, 2004, Google completed its IPO of 19.80 million shares to the initial investors at $84.40 per share. The closing price of the stock that same day was $97.71. What was the dollar value of the underpricing associated with the Google IPO? (Round intermediate calculation to 2 decimal places, e.g. 15.25 and final answer to 0 decimal places, e.g. 125.)

Total underpricing was $

million.

Click if you would like to Show Work for this question:

"Get 15% discount on your first 3 orders with us"
Use the following coupon
"FIRST15"

Order Now