Pranjali needs to calculate the payroll expenses in the years 20232026. She knows the payroll will be $140,000 in 2022 and will increase by at least five percent per year. Project the payroll expenses as follows:

Project the expenses for Payroll for 2023-2026 (cells D13:G13) using a Growth Trend extrapolation.

Use 1.05 (a 5 percent increase) as the step value.

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