Madison is taking over as Chief Marketing Officer at MidWest Graphics. She has pledged to increase sales from their current level of $12,000,000 at a rate of 10% per year until the firm hits sales of $20,000,000 per year. How long will it take Madison to hit the target goal at this rate of increase?

Select one:

a. At that rate, Madison will never reach the target sales level in her lifetime.

b. 7.67 years

c. 1.53 years

d. 5.36 years