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Assume the following information concerning two stocks that make up an index. What is the value-weighted return for the index? (Do not round intermediate calculations.

Assume the following information concerning two stocks that make up an index. What is the value-weighted return for the index? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Price per Share
Shares Outstanding Beginning of Year End of Year
Kirk, Inc. 38,000 $ 61 $ 67
Picard Co. 27,500 111 117

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