Globex Corp. is considering opening a new division to make iToys that it expects to sell at a price of $14,950 each in the first year of the project. The company expects the cost of producing each iToy to be $5,750 in the first year; however, it expects the selling price and cost per iToy to increase by 1% each year.
Based on this information, calculate selling price in year 4.
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Globex Corp. is considering opening a new division to make iToys that it expects to sell at a price...
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