A nonparticipating preferred stock has a fixed dividend payment every year . True False

Suppose a stock index contains the stock of 3 firms : A, B and C. The stock prices for the three firms are $27, $26 and $77, respectively. The firms have 112 million , 116 million and 191 million shares outstanding , respectively. If the index is price -weighted , calculate its initial value. (round your answer to 2 decimal places )