Net income was $500,000 in 2005, $480,000 in 2006, and $537,600 in 2007. What is the percentage

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Net income was $500,000 in 2005, $480,000 in 2006, and $537,600 in 2007.

What is the percentage of change from

(a) 2005 to 2006, and

(b) from 2006 to 2007? Is the change an increase or a decrease?

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Shameen Tahir

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