USE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM(S)

		Price/Share			Shares Outstanding
Stock	X	Y	Z	X	Y	Z
13-Jan	$ 22.00	$ 36.00	$ 52.00	1000	2000	1000
14-Jan	$ 25.00	$ 33.00	$ 28.00	1000	2000	2000
15-Jan	$ 30.00	$ 29.00	$ 25.00	1000	2000	2000
16-Jan	$ 11.00	$ 32.00	$ 23.00	3000	2000	2000

*2:1 Split on Stock Z after Close on Jan. 13

**3:1 Split on Stock X after Close on Jan. 15

The base date for index calculations is January 13

Refer to the exhibit above. What is the divisor at the beginning of January 14th?

		3.00
		2.86
		2.63
		2.29
		2.02