Neon Lights Company is a private company with sales of $1.3 million a year. Management wants to take the company public

QUESTION:

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Neon Lights Company is a private company with sales of $1.3 million a year. Management wants to take the company public but has to wait until the sales reach $2 million. If the sales are expected to grow 12 percent annually, when is the earliest that Neon Lights will go public?

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