Labor Cost index: 160 (2006) 200 (2016)
Annual Labor cost for similar equipment for 2006: $300,000
Material Cost index: 600 (2010) 750 (2016)
Refer to Table 1. Judy would like to estimate the annual labor and material costs for 2016 for new equipment based upon the following data. What is the estimate of the annual labor cost for 2016? $275,000, $300,000, $375,000, or $400,000?
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