NARRBEGIN: "Flip" Shares 2

NARRBEGIN: "Flip" shares 2
"Flip" shares 2
Three companies went public last month with initial public offerings (IPO) .An investor was able to purchase shares of each company at the offer price and then "flip" the shares at the end of the day for the full return.The shares of each company sold for a $20 offer price.The number of shares purchased and the first day return are shown below.

-Refer to "Flip" shares 2.What was the return on this investment at the end of the first day? (Ignore any tax implications for this question)

A) 11.38%
B) 11.61%
C) 11.88%
D) 12.33%