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Transent Foods announced that its current sales is $1 million this year. The company forecasts a growth rate of 15 percent for the foreseeable future.

Transent Foods announced that its current sales is $1 million this year. The company forecasts a growth rate of 15 percent for the foreseeable future. Calculate  how long will it take the firm to produce earnings of $3 million? (Round off to the nearest year.)

A.

6 years

B.

7 years

C.

8 years

D.

10 years

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