Assume that Whee, Cheatham, and Howe is an auditing firm that has found that Its summer Interns are subject to a 50 percent learning curve for one of Its Important tasks, proofreading financlal statements. For one of Its Interns, KIm Down, the firm has started to analyze the relation between time and financlal statement proofreading. Required: a. Compute the time required to proofread 4,8 , and 16 financlal statements. b. Assume that KIm's labor time costs $14 per hour. Compare the cost of proofreading the 1 st financlal statement to the cost of proofreading the 16 th financlal statement. What is the percentage of the cost of proofreading the 16 th financlal statement to the cost of proofreading the 1st financlal statement? Complete this question by entering your answers in the tabs below. Compute the time required to proofread 4,8 , and 16 financial statements. (Round your answers to 4 decimal places.)