In 2012, Cameron began his career with HSBC. His starting salary was $32,000. By 2019, his salary had increased to $55,000. If the CPI was 100.0 in 2012 and 117.5 in 2019, Cameron's 2019 real income in 2012 dollars is
A) $37,625.
B) $52,400.
C) $32,000.
D) $46,808.
E) $55,000.
Correct Answer:
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