Question
Sunland Company is a private company with sales of $1,000,000 a year. Management wants to take the company public but has to wait until the
Sunland Company is a private company with sales of $1,000,000 a year. Management wants to take the company public but has to wait until the sales reach $2,000,000. If sales are expected to grow 9 percent annually, when is the earliest that Sunland will go public? (If you solve this problem with algebra round intermediate calculations to 4 decimal places, in all cases round your final answer to 1 decimal place, e.g. 5.4.)
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