Using the data on the consumer price index reported in Table 8.1, calculate the value in 2012 of the following items (refer to the nearest year in the table to do each calculation):
(a) The salary of a worker in 1900: $1,000 per year.
(b) Babe Ruth€™s salary in 1932: $80,000.
(c) A bottle of Coke or Pepsi in the late 1940s: one nickel.
(d) A quarter pounder from McDonald€™s in 1972: 55 cents.
(e) A movie ticket to see Star Wars in 1977: about $2.25.
(f) A pack of M&M candies in 1991: 45 cents.

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TABLE 8.1 The Consumer Price Index, 1900-2012 (2012 Year 1900 1930 1950 1960 1970 100) CPI 3.56 7.30 10.52 12.94 16.97 Year 1980 1990 2000 2005 2012 CPI 36.00 57.11 75.25 85.34 100.00