Answer:
$248,240.
Step-by-step explanation:
We have been given that last year the company you work for did $232,000 in business. This year you anticipate an increase of 7%.
The business for the company would be $232,000 plus 7% of $232,000.
\(\text{The expected value of business}=\$232,000+(\frac{7}{100}\times\$232,000)\)
\(\text{The expected value of business}=\$232,000+(0.07\times\$232,000)\)
\(\text{The expected value of business}=\$232,000+\$16,240\)
\(\text{The expected value of business}=\$248,240\)
Therefore, the expected value of business this year is $248,240.
