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One year ago, the market capitalization of the portfolio of stocks in the PBP (Permian Basin Petroleum) Index was $1,330 million. Today, the market cap
One year ago, the market capitalization of the portfolio of stocks in the PBP (Permian Basin Petroleum) Index was $1,330 million. Today, the market cap of this portfolio is $1,881 million. Last year, the PBP index was at 2,175.00. Applying the market cap approximation discussed in the lecture, calculate the current value of the PBP index.
Enter your answer with 2 decimal places of accuracy. Do not type commas or dollar symbols. Do include your decimal point.
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