On January 4, 1988 the price of a widget was $21.23. On January 4, 1996 the price of a widget was $30.28. Find the average rate of change in the price of a widget from 1988 to 1996. Round to the nearest cent.

The average rate of change is $LaTeX: \displaystyle \frac{30.28-21.23}{1996-1988}= 1.13$ dollars per year.