The following three defense stocks are to be combined into a stock index in January 2016 (perhaps a portfolio manager believes these stocks are an appropriate benchmark for his or her performance). Assume the index is scaled by a factor of 10 million; that is, if the total value of all firms in the market is $5 billion, the index would be quoted as 500 Price Shares (millions) 1/1/16 1/1/17 1/1/18 Douglas McDonnel1 Dynamics General International Rockwell 360 450 170 $ 65 52 81 69 46 70 $ 83 60 86 a. Calculate the initial value of the index if a value-weighting scheme is used. (Round your answer to 2 decimal places.) Index value