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Lima has been asked to estimate the cost today of a 12 ft3 paint booth for the new plant. She has the following data: o

Lima has been asked to estimate the cost today of a 12 ft3 paint booth for the new plant. She has the following data:

o Her company paid $3,000 for a 3 ft3 paint booth 5 years ago.

o Paint booth within this range of capacity have a power-sizing exponent of 0.6.

o Five years ago the paint booth cost index was 856; it is 987 today.

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