Some time ago, Jeff Bezos purchased eleven acres of land costing $360,900. Today, that land is valued at $4,214,800. How long has he owned this land if the price of the land has been increasing at 12 percent per year?

Question 1 options:

	31.29 years
	19.11 years
	21.69 years
	17.59 years
	30.23 years