Homeowner Henry is building a fireplace for his house. The fireplace will require 2500 bricks. (a) If the cost of a Chimney Brick in 2007 was $2.10, calculate the material cost of Henrys project in 2020. The Chimney Brick Index (CBI) was 442 in 2007 and is expected to be 651 in 2020. (b) Estimate the material cost of a similar fireplace to be built in the year 2023. What assumption did you make?
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