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The following table shows share prices and the number of shares outstanding for the 3 stocks used to compute the BU3 value weighted index. Day

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The following table shows share prices and the number of shares outstanding for the 3 stocks used to compute the BU3 value weighted index. Day 1 Stock Price Shares $50 10,000,000 $70 B 5,000,000 $60 12,000,000 a. Assume that the BU3 index was started on Day 1. By the end of Day 2 Stock C has had a 3 for 1 stock split and the price of Stock A has increased by 6 percent. Compute the closing value of the index for Day 2. (10 pts)

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