In 1997 the US CPI was 160 and in 2019 it was 256. The CPI has base year of 1982. Use this information for the following three questions. 26. The nominal minimum wage in 1997 was $5.00 per hour. The real minimum wage earned in 1997 converted to 2019 dollars is I A. 5.00 B. 3.13 C. 8.00 D. 12.00 27. The average annual percent rate of inflation from 1997 to 2019 was closest to A. 1.2 B. 2.1 C. 3.1 D. 4.2 28. In 2019, the nominal minimum wage is $11. The real minimum wage increased over this period about how many percent per year? 19812