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Jackson's nominal income is $ 5 0 , 0 0 0 per year in Lakeview where the cost - of - living index is 2

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Jackson's nominal income is $50,000 per year in Lakeview where the cost-of-living index is 200. Jackson is considering accepting a similar job and relocating to Beachland where the cost-of-living index is 220. For Jackson's income to have the same purchasing power in Beachland as $50,000 has in Lakeview, Jackson's nominal income per year in Beachland must equal:
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a $50,000.
b $52,100
$52,500
$55,000.
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