Sawyer Corporation's 2018 sales were $15 million. Its 2013 sales were $7.5 million. a. At what rate have sales been growing? Round your answer to two decimal places. % b. Suppose someone made this statement: "Sales doubled in 5 years. This represents a growth of 100% in 5 years; so dividing 100% by 5, we find the growth rate to be 20% per year." Is the statement correct? -Select- The statement correct because 100% divided by 5 equals 20%. The statement incorrect because there are 6 years of sales growth between 2013 and 2018. The statement incorrect because a company's sales cannot double in such a short time span. The statement incorrect since the effect of compounding is not considered. The statement is correct since the effect of discounting is considered. Grade it Now Save & Continue Continue without saving