Iggie took a university teaching job as an assistant professor in 1980 at a salary of $15,000 . By 2011, she had been promoted to full professor, with a salary of $70,000 . If the price index was 82 in 1980 and 225 in 2011, then what is Iggie's 2011 salary in 1980 dollars?
a. $25,511
b. $52,073
c. $40,140
d. $41,159
a
Economics
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