In 1949, the City of Sherbrooke, Quebec, Built a Hospital

Multiple Choice

In 1949, the city of Sherbrooke, Quebec, built a hospital for about $500,000. In 1987, the city restored its courthouse for about $2.4 million. A price index for nonresidential construction was 14 in 1949, 92 in 1987, and 114.5 in 2019. According to these numbers, what approximately did the hospital cost?

A) $3.6 million in 2019 dollars, which is less than the cost of the courthouse restoration in 2019 dollars
B) $3.6 million in 2019 dollars, which is more than the cost of the courthouse restoration in 2019 dollars
C) $4.1 million in 2019 dollars, which is less than the cost of the courthouse restoration in 2019 dollars
D) $4.1 million in 2019 dollars, which is more than the cost of the courthouse restoration in 2019 dollars