The PLAY Index is a price weighted stock index based on the 5 largest toy and game manufacturers in the nation. The following chart shows the prices and shares outstanding for each of the five companies at year-end for 2016 and 2017. The initial divisor for the index is 100.

stock	shares (million)	Share price Dec. 31, 2016	Share Price Dec 31, 2017
Linkna Logs	1200	$20	$18
Silly Buddy	600	$40	$42
Hula Bowls	900	$48	$60
Tattell Co	900	$106	$110
Morton Bentley	1400	$70	$70

a) Calculate the rate of return on the PLAY index over 2017.

b) At the end of 2017, Linkna Logs was dropped from the index, and was replaced by Loggle Corporation. Loggles share price was $166 at the time. Calculate the new divisor for the index.

c) Suppose the PLAY index was a value-weighted index instead of a price-weighted index. If so, what would be the rate of return over 2017?

PLEASE SHOW CALCULATION.