Mr. Williams's small consulting firm specializes in providing internal control advice to his clients. All of his staff are certified internal auditors (CIAs) and want to gain expertise in a variety of industries. Jonas, his most senior consultant, always brings a less-seasoned associate with him for efficiency, training, and general camaraderie. Jonas first assesses a situation in about 4 hours and then will brainstorm ideas the client could use to address its internal control risks. The less-seasoned associate follows Jonas, listens to the half- day assessment ritual, and then helps to brainstorm improvements for the client. Jonas's labor rate is billed at $140/hour, while the associate's billing rate is half that amount. (a) (b) Your Answer Correct Answer (Used) Mr. Williams believes Jonas operates on a 70% learning curve for the "assessment" portion of his work, while his associate operates on a 75% learning curve. Create a chart outlining the number of hours each of these individuals is likely to spend on the next assessment of a client's internal controls. How much time will Mr. Williams expect each of them to spend on their fourth such assessment of a client's internal controls? (Round answers to 2 decimal places, e.g. 15.25.) Time spent on the fourth assessment Jonas Jonas' associate 1.96 hours 2.25 hours