A company conducts an initial public offering (IPO). At the end of the road show, the stock is priced at $100 per share and the investment bank charges $7 per share as compensation for its services under a firm commitment. The stock closes at $110 on the first day of trading and the media labels the IPO as a success. What is the "underpricing" on this IPO?   Question 13 options:   a)  6.4%   b)  7.0%   c)  10.0%

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