Problem

Indexing Exemptions for Inflation. Each year, the Internal Revenue Service adjusts the val...

Indexing Exemptions for Inflation. Each year, the Internal Revenue Service adjusts the value of an exemption based on inflation (and rounded to the nearest $50). In a recent year, if the exemption was worth $3,100 and inflation was 4.7 percent, what would be the amount of the exemption for the upcoming tax year? (Obj. 2)

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