Market value weighted index has three stock

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A market value weighted index has three stocks in it, call them A, B, and C, priced at 64, 70, and 59 per share. Each firm has 263, 199 and 342 thousand shares outstanding, respectively. The value of the index at close of trading day is 775. At this time, the index decides to remove stock C from the index, and in its place to insert stock D. Stock D has a closing price of $96 per share, and 478 thousand shares outstanding. What is the new value of the index divisor, after the substitution? Enter answer accurate to two decimal places.

Reference no: EM131329917

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