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The nominal price (per pound) of apples for each year is shown in the timeline below. What is the real price of apples in year

The nominal price (per pound) of apples for each year is shown in the timeline below.

What is the real price of apples in year 2002 (as seen from year 2001).

Calculate your answer to the nearest penny (e.g., 3.81)

Year 2001 2002 2003 2004
Nominal Price $2.4 $2.54 $2.61 $2.75
Price Level 150 154 155 159
Price Adjustment
Real Price

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