Duffin House, Higgins Press, and Sickle Publications all went public on the same day recently. John O’Hagan had the opportunity to participate in all three initial public offerings. He made a considerable profit when he sold all of the stock 2 days later on the open market. The following table shows the purchase price and percentage yield on the investment in each company:   Purchase Price (per share) Yield (%) Duffin House (DHS) 8 20 Higgins Press (HPR) 10 15 Sickle Publications (SPUB) 15 15 He invested $20,000 in a total of 2,000 shares and made a $3,400 profit from the transactions.

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Duffin House, Higgins Press, and Sickle Publications all went public on the same day recently. John O’Hagan had the opportunity to participate in all three initial public offerings. He made a considerable profit when he sold all of the stock 2 days later on the open market. The following table shows the purchase price and percentage yield on the investment in each company:

  Purchase Price (per share) Yield (%)
Duffin House (DHS) 8 20
Higgins Press (HPR) 10 15
Sickle Publications (SPUB) 15 15

He invested $20,000 in a total of 2,000 shares and made a $3,400 profit from the transactions. 

Expert Solution
Step 1

Assume number of stocksDuffins = DHiggins = HSickle =SAlso,D+H+S=20008D+10H+15S=20,000Yield = ProfitTotal profit=$3400

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