An index consists of the following securities. What is the value-weighted index return?

StockShares O/S Begin Price End Price

C 4,500 $18 $22

T 7,500 $12 $11

W 3,500 $32 $36

A) 3.72 percent

B) 5.09 percent

C) 6.61 percent

D) 7.07 percent

E) 8.66 percent