1. You work for a not-for-profit law firm that has an annual income of $2 200 000. You and your firm are very keen to get funding from the government for a project you want to undertake, but the government has a minimum requirement for firm size; the annual income needs to be at least $2 500 000. If you expect the firm to grow at 8%, how many years will it take before your firm becomes eligible?

1.1364

1.661

2.6201

1.0522