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Suppose a stock index contains the stock of 3 firms: A, B and C. The stock prices for the three firms are $47, $55 and

Suppose a stock index contains the stock of 3 firms: A, B and C. The stock prices for the three firms are $47, $55 and $54, respectively. The firms have 88 million, 94 million and 86 million shares outstanding, respectively. If the index is value-weighted, calculate its initial value. (round your answer to 2 decimal places)

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