DATES PRICE INDEX 1974-01-01 26.574 1974-02-01 26.883 1974-03-01 27.195 1974-04-01 27.387 1974-05-01 27.657 1974-06-01 27.891 1974-07-01 28098 1974-08-01 28.391 1974-09-01 28.687 1974-10-01 28.893 1974-11-01 29.110 1974-12-01 29.341 1975-01-01 29.523 1975-02-01 29.684 1975-03-01 29.786 1975-04-01 29.887 1975-05-01 30.007 1975-06-01 30.195 1975-07-01 30454 1975-03-01 30.586 1975-09-01 30.737 1975-10-01 30.916 1975-11-01 31 114 1975-12-01 31286 al (5 points] Calculate the rate of inflation from April 1974 (1974-04-01) to April 1975 (1975-04-01). bj (5 points] Suppose that you earned $25,000 per year back in April of 1975. Assuming that the current price index is 112, how much money would you have to make now to have the same purchasing poweras $25,000 did back in April of 1975?