In 1931, President Herbert Hoover was paid a salary of $75,000. Government statistics show a consumer price index of 15.2 for 1931 and 214.5 for 2009. President Hoover's 1931 salary was equivalent to a 2009 salary of about
A) $5,507.
B) $1,058,388.
C) $1,140,000.
D) $15,525,000.
Correct Answer:
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