Your grandfather says he paid 2 bits (50 cents) for a shoe shine in...

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# Your grandfather says he paid 2 bits (50 cents) for a shoe shine in...

Your grandfather says he paid 2 bits (50 cents) for a shoe shine in 1935.  The 1935 CPI factor is 13.7 and the 2007 CPI factor is 207.3.  How much, in today's money, did he pay?  (Convert the cost to 2007 constant dollars to answer.)  Round to the nearest cent and don't include the "quot; sign

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