3. [5 points] Suppose you are a member of your company's strategic plan that strives to maintain a well-motivated staff. One of the tasks assigned to your planning committee is to make recommendations on a long-term compensation policy that will help the payroll keep up with inflation, which is one of the key variables in the decision-making process. The expected inflation is a key determinant of the purchasing power earnings. Suppose you currently know that at an inflation rate of 9 percent the purchasing power of $1 would be cut in half in 8.04 years. However, since the macroeconomic environment has recently improved significantly, your committee would like to know how long to the nearest year it would take the purchasing power of $1 to be cut in half if the inflation rate were only 4 percent. Please, provide the answer for this question, which is part of the tasks that have been assigned to you. Show supporting work