K Compare the doubling times found with the approximate and exact doubling time formulas. Then use the exact doubling time formula to answer the given question. Inflation is causing prices to rise at a rate of 11% per year. For an item that costs $600 today, what will the price be in 4 years? Calculate the doubling times found with the approximate and exact doubling time. years and the exact doubling time is years. The approximate doubling time is (Round to two decimal places as needed.)