A pharmaceutical company had sales of $28,600,000 in the year just completed. Sales are expected to decline

Question:

A pharmaceutical company had sales of $28,600,000 in the year just completed. Sales are expected to decline by 4% per year for the next three years until new drugs, now under development, receive regulatory approval. Then sales should grow at 8% per year for the next four years. What are the expected sales for the final year of the seven-year period?