Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You are given the following information concerning two stocks that make up an index. Assume that you want to reindex with the index value at

You are given the following information concerning two stocks that make up an index.

Assume that you want to reindex with the index value at the beginning of the year equal to 100. What is the index level at the end of the year? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Price per Share
Shares Outstanding Beginning of Year End of Year
Kirk, Inc. 38,000 $ 61 $ 67
Picard Co. 27,500 113 119

Index value: ?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Enhancing Financial Inclusion Through Islamic Finance Volume II

Authors: Abdelrahman Elzahi Saaid Ali , Khalifa Mohamed Ali , Mohamed Hassan Azrag

1st Edition

3030399389,3030399397

More Books

Students also viewed these Finance questions

Question

What are the concepts of Managerial Economis ?

Answered: 1 week ago