Bovic Inc Is a Growing Company with Sales of $1

Multiple Choice

Bovic Inc. is a growing company with sales of $1.25 million this year. The company expects to grow at an annual rate of 25 percent for the next three years, followed by a growth of 20 percent per year for the next two years. What will be Bovic's sales at the end of five years? (Round to the nearest percent.)

A) $2,160,000
B) $3,515,625
C) $1,875,000
D) $2,929,688