On January 4, 1966 the price of a widget was $11.83. On January 4, 1994 the price of a widget was $60.84. Find the average rate of change in the price of a widget from 1966 to 1994. Round to the nearest cent.

The average rate of change is $LaTeX: \displaystyle \frac{60.84-11.83}{1994-1966}= 1.75$ dollars per year.