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Bob bought some land costing $16,040. Today, that same land is valued at $46,117. How long has Bob owned this land if the price of

Bob bought some land costing $16,040. Today, that same land is valued at $46,117. How long has Bob owned this land if the price of land has been increasing at 4 percent per year?

Multiple Choice

26.93 years

27.99 years

11.50 years

11.06 years

29.11 years

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