Question

. The average starting salary for engineers was $5,000 a year in 1955. John, a mechanical engineer, got an offer for $72,500 a year in 2017. Knowing that the CPIS for1955 and 2017 are 26.87 and 243.73, respectively, what is John's real salary in terms of constant 1955 dollars? The general inflation rate is______%. (Round to two decimal places.) John's real salary in terms of constant 1955 dollars is $_____(Round to the nearest dollar.)

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