You Bought a House in 1999 for $140,000

Multiple Choice

You bought a house in 1999 for $140,000. The previous owner paid $55,000 for the same house in 1976. Comparing the converted costs, who paid more for the house? (Assume the 1999 CPI is 166.2 and the 1976 CPI is 56.9.)

A) You paid more.
B) The previous owner paid more.
C) You both paid about the same.