In 1895, the first a sporting event was held. The winner's prize money was $130. In 2007, the winner's check was $1,177,000. (Do not round your intermediate calculations.)

Required:
(a)	What was the percentage increase per year in the winner's check over this period?
	(Click to select) 8.57 8.52 -24.13 8.37 8.47

(b)	If the winner's prize increases at the same rate, what will it be in 2040?
	(Click to select) 17,776,039.82 17,507,880.20 16,726,726.55 17,243,645.10 130.00