On January 4, 1950 the price of a widget was $32.05. On January 4, 1997 the price of a widget was $76.81. Find the average rate of change in the price of a widget from 1950 to 1997. Round to the nearest cent.

The average rate of change is $LaTeX: \displaystyle \frac{76.81-32.05}{1997-1950}= 0.95$ dollars per year.