no initial index is needed for this question.

Question 1 5 pts Assume the following four companies are used in computing an index (there have been no stock splits during this time). Corporation Shares Outstanding Market Price (Base Period Market Price (Current Jan. 1, 1977) Period Dec. 31, 2004) Reese 4,000 $2 $14 Robinson 16,000 $16 27 Snider 6,000 $9 15 Hodges 40,000 $10 20 If the index is price-weighted, what will be the value of the index on Dec. 31, 2004? (Keep O decimal place)