Steve placed an order with his broker to purchase 500 shares of each of three IPOs that are being released this month. Each IPO has an offer price of $20 a share. The number of shares allocated to Steve, along with the closing stock price at the end of the first day of trading for each stock, are as follows: (Hint: Return = (Value of stocks at end of first trading day – cost of purchasing the stocks) / Cost of purchasing the stocks.)

Stock               Shares Allocated         Closing Market Price, Day 1

    A                             500                              $18.80

    B                             100                              $26.40

    C                             300                              $19.70

What is Steve's total return on these three stocks as of the end of the first day of trading?