Grant Smith was a doctor in 1944 and earned $12,000 that year

| November 24, 2016

Question
(Please list the steps you took/formula used to get to the answer)

Grant Smith was a doctor in 1944 and earned $12,000 that year. His daughter, Lisa Smith, is a doctor today and she earned $210,000 in 2005. The price index in 1944 was 17.6 and the price index in 2005 was 184. Grant Smith’s 1944 income in 2005 dollars is about….?

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