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MicroFiber company reports in its 2021 10-K, sales of $565 million and cost of goods sold of $226 million. For next year, you project that

MicroFiber company reports in its 2021 10-K, sales of $565 million and cost of goods sold of $226 million. For next year, you project that sales will grow by 6% and that cost of goods sold percentage will be 1 percentage point higher. Projected cost of goods sold for 2022 will be:

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a)$248 million

b)$246 million

c)$242 million

d)$240 million

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