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 2015.According to these numbers,what approximately did the hospital cost?
A) $3.6 million in 2015 dollars,which is less than the cost of the courthouse restoration in 2015 dollars
B) $3.6 million in 2015 dollars,which is more than the cost of the courthouse restoration in 2015 dollars
C) $4.1 million in 2015dollars,which is less than the cost of the courthouse restoration in 2015 dollars
D) $4.1 million in 2015 dollars,which is more than the cost of the courthouse restoration in 2015 dollars
Correct Answer:
Verified
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