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In the 1920 Sears Roebuck catalog, an oak chest of drawers cost $8 plus freight. In 1990 this same chest of drawers, in good condition,

In the 1920 Sears Roebuck catalog, an oak chest of drawers cost $8 plus freight. In 1990 this same chest of drawers, in good condition, was $1200. If the average rate of inflation over that 70-year period was 3%, what was the average yearly rate of appreciation, adjusted for inflation?

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