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A university building is about to be built in Florida that is similar to another one on built in Europe in 1 9 9 5

A university building is about to be built in Florida that is similar to another one on built in Europe in 1995 that cost 5 million. The client wants to know how much it would cost (in US dollars) to hire the necessary labor to build the project. The labor index for 1995 was 734.2, whereas the current labor index is 1129.3. The current exchange rate is 1 to $1.50. Use the formula C2=C1(I2I1).
A. $7.69 million
B. $11.5 million
C. $6.15 million
D. $3.25 million
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