Cullumber Technologies, Inc., an Indian technology company, reported net income of $416,000,000 this year. Analysts expect the companys earnings to be $1,450,000,000 in five years. What is the expected annual growth rate in the companys earnings? (If you solve this problem with algebra round intermediate calculations to 4 decimal places, in all cases round your final answer to 2 decimal places, e.g. 8.72%.)

Expected earnings annual growth rate = %

Pharoah Company is a private company with sales of $1,250,000 a year. Management wants to take the company public but has to wait until the sales reach $2,000,000. If sales are expected to grow 15 percent annually, when is the earliest that Pharoah will go public? (If you solve this problem with algebra round intermediate calculations to 4 decimal places, in all cases round your final answer to 1 decimal place, e.g. 5.4.)

Pharoah will go public in _ years