An assembly line robot arm with a first cost of $75,000 in 2001 had a cost of

Question:

An assembly line robot arm with a first cost of $75,000 in 2001 had a cost of $89,750 in 2017. If the equipment cost index for robots was 307 in 1995 and the robot cost increased exactly in proportion to the index, the value of the index in 2017 was closest to:

(a) 367

(b) 395

(d) 4

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