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In 1895, the first a sporting event was held. The winner's prize money was $140. In 2007, the winner's check was $1,172,000. (Do not round your intermediate calculations.)

Required:

(a) What was the percentage increase per year in the winner's check over this period?

(Click to select) 8.508.458.308.40-23.95

(b) If the winner's prize increases at the same rate, what will it be in 2040?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91608287

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