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Xenix Corp had sales of $353,866 in 2017. If management expects its sales to be $476,450 in 3 years, what is the rate at whic

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Answer #1

Growth rate = (FV/PV)1/t - 1

Growth rate = ($476,450/$353,866)1/3 - 1

Growth rate = 0.1042 or 10.42%

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