An analyst gathered the following data about stocks J. K. L which together form a value weighted index: December 31, Year 1 December 31, Year 2 Stock Price Shares outstanding Price Shares Outstanding J 50 10,000 $60 10,000 K 40 8,000 $30 16,000 L 50 12,000 $40 12,000 Calculate the ending value-weighted index (base index = 100), and briefly explain what it means. Provide your answer up to 2 decimal points.