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Assume the data below is used to keep track of the price of a market basket for years 1 and 2 in Economy A. Use

Assume the data below is used to keep track of the price of a market basket for years 1 and 2 in Economy A. Use the following data to calculate the CPI for year 2.

Year Price of Market Basket CPI
2022 $89 100
2023 $70

Using the information that has been given, answer the following question.

Calculate the CPI for Year 2. (Answer with two decimal places)

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