The initial cost to produce a widget is estimated to be 150

Question

Calculate a future cost given a learning rate

The initial cost to produce a widget is estimated to be $150. The learning rate has been calculated to be 92%.

Calculate the cost of the 128^th unit using the basic theory proposed by Wright that every time production doubles, the time required (cost) will decrease by the learning rate.

Calculate the cost of the 128^th unit using the Wright equation.