Multiple Choice
Scenario 6-1
Grant Smith was a doctor. In 1944, he made $12,000. His daughter, Lisa Smith, is also a doctor. Last year she made $275,000. The price index in 1944 was 17.6 and the price index last year was 200.
-Refer to Scenario 6-1. What is Grant's 1944 income in last year's dollars?
A) $19,128
B) $21,240
C) $120,682
D) $136,363
Correct Answer:
Verified
Correct Answer:
Verified
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