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Suppose Stocks A, B and C are the only three component stocks in a benchmark index. The number of shares outstanding of Stocks A, B

Suppose Stocks A, B and C are the only three component stocks in a benchmark index. The number of shares outstanding of Stocks A, B and C are 356,000 shares, 329,000 shares, and 241,000 shares, respectively. The prices of Stocks A, B and C for Days 1, 2, 3 and 4 are given in the table below:

Stock A

Stock B

Stock C

Day 1

30.83

80.55

78.55

Day 2

31.23

44.31

78.58

Day 3

33.62

40.29

81.76

Day 4

34.43

42.25

78.1

Stock B had a 2-for-1 stock split on Day 2, which explained the drop in the price of Stock B.

If the benchmark value-weighted index was 1507.61 on Day 1, the benchmark value-weighted index on Day 3 was Answer. (Note: Answer must be correct to 2 decimal places, but you may leave your answer with more than 2 decimal places.)

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