Inflation Problem
A software company's labor requirements currently cost $350,000/year. The labor-hour requirements are expected to increase by 10 percent per year over the next 5 years. If in?ation is 4 percent, determine the labor costs after 5 years using
• then-current dollars.
• constant-worth dollars.
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.