The function C$($t$)=$C$0(1+$r$)$t

models the rise in the cost of a product that has a cost of C$0$

today, subject to an average yearly inflation rate of r for t years. If the average annual rate of inflation over the next $7$

years is assumed to be $2\mathrm{.}5\%$

$,$ what will the inflation$-$adjusted cost of a $$220,100$

boat be in $7$

years? Round to two decimal places.