Problem
Five years ago, POW Chemical built a fertilizer production plant for $8M. The inflation rates over the last 5 years have been 3%, 5%, 3%, 6%, and 2%, respectively. In current dollars, what is the order-of-magnitude estimated cost of a plant with 50% more capacity?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.