On January 4, 1980 the price of a sprocket was $29.66. On January 4, 2001 the price of a sprocket was $64.77. Find the average rate of change in the price of a sprocket from 1980 to 2001. Round to the nearest cent.

The average rate of change is $LaTeX: \displaystyle \frac{64.77-29.66}{2001-1980}= 1.67$ dollars per year.