A benchmark price weighted index is comprised of three stocks. Yesterday the three stocks were priced at $7, $20, and $2. The number of outstanding shares for each is 87,373 shares, 129,929 shares, and 141,940 shares, respectively. If the stock prices changed to $7, $12, and $9 today respectively, what is the 1-day rate of return on the index? Please state your answer as percentage (i.e. 5.21 and not 0.05) and do not use the % symbol. Please round to the nearest two decimals. *****Hint: Read carefully: Is it price-weighted or market-value-weighted?

A benchmark price weighted index is comprised of three stocks. Yesterday the three stocks were priced at $7,$20, and $2. The number of outstanding shares for each is 87,373 shares, 129,929 shares, and 141,940 shares, respectively. If the stock prices changed to $7,$12, and $9 today respectively, what is the 1-day rate of return on the index? Please state your answer as percentage (i.e. 5.21 and not 0.05 ) and do not use the \% symbol. Please round to the nearest two decimals. Hint: Read carefully: Is it price-weighted or market-value-weighted