Suppose you needed $24,000 to maintain a particular standard of living in 1977. How much would you have needed in 2004 to maintain the same standard of living? Assume that all prices have risen at the same rate as the CPI.

Average Annual Consumer Price Index (CPI) (1982-1984=100)

Year	CPI	Year	CPI	Year	CPI
1973	44.4	1984	103.9	1995	152.4
1974	49.3	1985	107.6	1996	156.9
1975	53.8	1986	109.6	1997	160.5
1976	56.9	1987	113.6	1998	163.0
1977	60.6	1988	118.3	1999	166.6
1978	65.2	1989	124.0	2000	172.2
1979	72.6	1990	130.7	2001	177.1
1980	82.4	1991	136.2	2002	179.9
1981	90.9	1992	140.3	2003	184.0
1982	96.5	1993	144.5	2004	188.9
1983	99.6	1994	148.2	2005	195.3

How much would you have needed?

$ ?