A company you are analyzing experienced tremendous growth over the past decade.
You gather sales data from their 10-K filings and learn that 2002 revenues totaled $425 million. The 2012 Income Statement revenues show $2,389 million.
a. What percentage growth did this company experience over the 10-year period?
b. At what average annual growth rate (referred to as the Compound Annual
Growth Rate, or CAGR), did the company's revenues grow?
