In its Year 7 annual report, Oak Company reported sales of $960 million. If you anticipate that sales will grow by 4% each year for the foreseeable future, what will Year 11 forecasted sales be?

Select one:

a. $1,079.9 million

b. $1,123.1 million

c. $921.6 million

d. $998.4 million

e. None of these are correct