An Index Consists of the Following Securities and Has an Index

Multiple Choice

An index consists of the following securities and has an index divisor of 3.0. What is the price-weighted index return?
$\begin{array}{cccc}\text { Stock } & \text { Shares Outstanding } & \text { Beginning Share Price}&\text{ Ending Share Price } \\\text { A } & 4,000 & \$ 21 & \$ 16 \\\text { L } & 1,000 & \$ 49 & \$ 61 \\\text { S } & 3,000 & \$ 37 & \$ 38\end{array}$

A) -4.76%
B) -2.05%
C) 3.09%
D) 5.17%
E) 7.48%