Question
Suppose Stocks A, B, C and D are the only four component stocks in a benchmark index. The number of shares outstanding of Stocks A,
Suppose Stocks A, B, C and D are the only four component stocks in a benchmark index. The number of shares outstanding of Stocks A, B, C and D are 392,000 shares, 303,000 shares, 208,000, and 127,000 shares, respectively. The prices of Stocks A, B, C and D for Days 1, 2, 3 and 4 are given in the table below:
| Stock A | Stock B | Stock C | Stock D |
Day 1 | 30.56 | 42.49 | 79.15 | 18.22 |
Day 2 | 32.11 | 40.09 | 77.92 | 16.90 |
Day 3 | 32.56 | 40.13 | 79.25 | 18.46 |
Day 4 | 33.06 | 44.01 | 78.68 | 19.49 |
If the benchmark value-weighted index was 1519.08 on Day 1, the benchmark value-weighted index on Day 2 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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