A 250-gallon reactor cost $780,000 when it was constructed 20 years ago. What would a 750-gallon model cost today if the power-sizing exponent is 0.56 and the construction cost index for such facilities has increased from 141 to 556 over the last 20 years? Choose the closest value. (a) $0.37 million (b) $1.66 million (c) $1.44 million (d) $5.69 million

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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A 250-gallon reactor cost $780,000 when it was constructed 20 years ago. What would a 750-gallon model cost today if the power-sizing exponent is 0.56 and the construction cost index for such facilities has increased from 141 to 556 over the last 20 years? Choose the closest value. (a) $0.37 million (b) $1.66 million (c) $1.44 million (d) $5.69 million

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