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Transent Foods announced that its current sales are $1,233,450 this year. The company forecasts a growth rate of 16 percent for the foreseeable future. How
Transent Foods announced that its current sales are $1,233,450 this year. The company forecasts a growth rate of 16 percent for the foreseeable future. How long will it take the firm to produce earnings of $3 million? (Round off to the nearest year.)
a. 8 years
b. 10 years
c. 7 years
d. 6 years
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