A benchmark index has three stocks priced at $29, $52, and $62. The number of outstanding shares for each is 380,000 shares, 465,000 shares, and 613,000 shares, respectively. If the market value weighted index was 850 yesterday and the prices changed to $29, $49, and $65 today, what is the new index value?

Multiple Choice

• 855

• 840

• 850

• 845