In 1931, President Herbert Hoover was paid a salary of $75,000. Government statistics show a consumer price index of 15.2 for 1931 and 195 for 2005. President Hoover's 1931 salary was equivalent to a 2005 salary of about
a. $1,125,008.
b. $1,455,995.
c. $962,171.
d. $1,254,262.
Answer: C