Travel expenses for Remi Electronics have been increasing at an alarming rate. In an effort to control this unfortunate trend, management has declared that if costs reach or exceed $70 thousand by 2014 drastic measures must be taken. Given the costs in thousands shown here, calculate the geometric mean rate of increase and determine if corrective measures are in order.

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Year 2007 2008 2009 2010 2011 2012 Expenses 42 53 49 57 63 62