A market value weighted index has three stocks in it, priced at 82,8, 76.2, and 56.9 per share, and each firm has 488, 477 and 449 thousand shares outstanding, respectively. The value of the index today is 976.2. At this time, the third stock undergoes a 3 for 1 stock split. What is the new value of the index? Enter answer accurate to two decimal places.

A market value weighted index has three stocks in it, priced at 82,8, 76.2, and 56.9 per share, and each firm has 488, 477 and 449 thousand shares outstanding, respectively. The value of the index today is 976.2. At this time, the third stock undergoes a 3 for 1 stock split. What is the new value of the index? Enter answer accurate to two decimal places.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter2: The Domestic And International Financial Marketplace

Section: Chapter Questions

Problem 1P

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