The function C(x)=72*(1.04)^x, models the cost in dollars, C, of 1 ounce of a certain chemical used in a laboratory, and X represents the number of years since 2010. 1. Does the cost of the chemical increase or decrease overtime, and by what percentage per year does it do so?

The cost increases by 4% per year

The cost decreases by 4% per year

The cost increases by 6% per year

The cost decreases by 6% per year