The following three defense stocks are to be combined into a stock index in January 2016 (perhaps a portfolio manager believes these stocks are an appropriate benchmark for his or her performance). Assume the index is scaled by a factor of 10 million; that is, if the total value of all firms in the market is $5 billion, the index would be quoted as 500. Price Shares (millions) 1/1/16 1/1/17 1/1/18 Douglas McDonnell 190 $ 105 $ 111 $ 124 Dynamics General 450 68 64 78 International Rockwell 330 97 86 102 a. Calculate the initial value of the index if a value-weighting scheme is used.