Global Stock Index is a value weighted index with just 2 stocks in the index: ABC stock and XYZ stock. ABC ended 2005 at a price of $55 and had 1 million shares outstanding. XYZ stock ended 2005 at a price of $32 and had 4 million shares outstanding. ABC had a 2 -for-1 split in 2006 at a new price of \$27.50. By the end of 2006ABC closed at $29 and XYZ stock closed at $35 for 2006. Calculate the new value of the index. (12 Marks)