The average starting salary for engineers was $5,000 a year in 1955. John, a mechanical engineer, got
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The average starting salary for engineers was $5,000 a year in 1955. John, a mechanical engineer, got an offer for $60,000 a year in 2011. Knowing that the CPIs for 1955 and 2011 are 26.87 and 224.43, respectively, what is John’s real salary in terms of constant 1955 dollars?
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