22- A certain governmental agency had a budget last year of $1,100,500. Its budget this year was7% higher than that of last year. The budget for next year is 8% higher than this year’s budget.Which one of the following is the agency’s budget for next year?a. $1,117,600
b. $1,161,600c. $1,261,700
d. $1,265,600e. $1,271,700
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