Exhibit 52
Use the Information Below for the Following Problem(S)

question 39

Multiple Choice

Exhibit 5.2
Use the Information Below for the Following Problem(S)
$\begin{array}{lcccccc} ~&&\text { Stock Price } &&& \text { \# Shares } \\ & \mathbf{X} & \mathbf{Y} & \mathbf{Z} & \mathbf{X} & \mathbf{Y} & \mathbf{Z} \\ \text { Jan. } 13,2005 & 20 & 40 & 30 & 1000 & 2000 & 1000^{*} \\\text { Jan. } 14,2005 & 25 & 42 & 18 & 1000 & 2000 & 2000 \\\text { Jan. } 15,2005 & 27 & 45 & 8 & 1000^{* *} & 2000 & 2000 \\\text { Jan. } 16,2005 & 20 & 40 & 10 & 3000 & 2000 & 2000\end{array}$
*2:1 Split on Stock Z after Close on Jan. 13, 2005
**3:1 Split on Stock X after Close on Jan. 15, 2005
The base date for index calculations is January 13, 2005
-Refer to Exhibit 5.2.What is the divisor at the beginning of January 14th?

• A) 3.0
• B) 2.5
• C) 2.2734
• D) 1.9375
• E) None of the above