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In 1980 the price of microwave oven was $368.25 and CPI was 106.04. Today the price of a microwave oven is $262.93 and CPI is 299.24.

What is the 1980 price of microwave oven measured in todays dollars? (Round to two decimal places.)

In 1980 the price of microwave oven was $$368.25$ and CPI was 106.04 . Today the price of a microwave oven is $$262.93$ and CPI is 299.24 What is the 1980 price of microwave oven measured in todays dollars? (Round to two decimal places.)

To convert the 1980 price to today's dollars, the price will have to be inflated using the given price indices.

This is because CPI has increased from 1980 to today.