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19. The cost of material was $2.00 per ounce 5 years ago. If prices have increased (inflated) at an average rate of 5% per year

19. The cost of material was $2.00 per ounce 5 years ago. If prices have increased (inflated) at an average rate of 5% per year the cost per ounce now is closest to? (3 Pts) a. $2.04 b. $2.55 c. $2.08 d. $2.43 e. $8.00

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