I’ll mark you as brainliest if you get it correct

$37.45(to the nearest hundredths)

Step-by-step explanation:

% increase in last year living cost =5%

% increase in last year income =5%

This year income = $39.420

To calculate last year income implies

5% decrease of this year income; thus:

5/100 * $39.420 = $1.971

Last year income = $39.420 - $1.971 = $37.449 = $37.45 (to the nearest hundredths)

hope this is what you were asking for!

step-by-step explanation: