A Benchmark Index Has Three Stocks Priced at $23,$43,and $56

question 22

Multiple Choice

A benchmark index has three stocks priced at $23,$43,and $56.The number of outstanding shares for each is 350,000 shares,405,000 shares,and 553,000 shares,respectively.If the market value weighted index was 970 yesterday and the prices changed to $23,$41,and $58,what is the new index value?

• A) 960
• B) 970
• C) 975
• D) 985

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