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An engineer analyzing cost data discovered that the information for the first three years was missing. However, she knows that the cost in year four was $1250 and the cost continued to increase by 5% per year thereafter.

If she made the assumption that the same trend could be applied for the first three years as well, compute the cost in year 1.

Please explain and post steps.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91268119

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