Locil Agencies is a fast-growing advertising agency. Currently, its sales is at $700,000. The company expects its sales to grow at an annual rate of 35 percent in the next two years, followed by an annual rate of 25 percent in years 3 through 7. Finally, its growth rate would slow down to 10 percent in years 810. What will be its sales as of year 10? (Round to the nearest dollar.) Please show work.

Question 11 options:

$2,843,323

$5,181,956

$3,893,280

$1,698,023