6. 11.19 A contractor purchased pump equipment costing $40,000 when the FRED pumps, compressors, and equipment index was 265.2. He remembers purchasing the same equipment for $25,000 some years ago, but he does not remember how many years ago. If the index increased by 2.38% per year since the previous purchase and the equipment increased in price exactly in proportion to the index,

(a) how many years ago did he purchase the pump, and

(b) what was the approximate value of the index in that year?