Smith Family Farm is preparing its sales projections for 2022 and has collected its past sales growth statistics for the last five years as follows: +10%, +6%, - 3%, 5%, +3%. Its sales last year were $520,000, and it wants to use its average sales growth rate to project its sales for the next year. What are its projected sales for 2022 based on its average sales growth rate over the last five years?

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The sales can be forecasted using various a... View the full answer