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A horizontal analysis is being conducted with year one as the base year. If year one equals $4,000, year two equals $4,120, and year three

A horizontal analysis is being conducted with year one as the base year. If year one equals $4,000, year two equals $4,120, and year three equals $4,204, the percentage of the base period for year three is

A.98%.

B.103%.

C.100%.

D.105%.

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