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When Kevin started working 23 years ago, his salary was $55,847. His current salary is $156,580. When Kevin started working, the price level was 126,

When Kevin started working 23 years ago, his salary was $55,847. His current salary is

$156,580. When Kevin started working, the price level was 126, while the current price level is

157. What was Kevins average per year percentage raise in real terms over the 23 years?

State your answer to two decimal places (e.g., 3;28).

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