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To predict the amount of money the company will spend in 2029, we need to substitute x = 2029 into the given function f(x) = 1.606x - 2941.
f(2029) = 1.606(2029) - 2941
= 3256.974 - 2941
= 315.974
Therefore, the company will spend $315.974 billion on research and development in 2029.