4. $70,080 4. 10.46 A used Porsche 911, your favorite European sports car, has a cost today of $140,000. Because of high demand, its cost is expected to increase by 2X the inflation rate. If the inflation rate is 3% and the market interest rate is 8% per year, the cost 4 years from now is estimated to be closest to: 1. $177,000 2. $189,500 3. $190,470 4. $253,000