One of the most famous paintings of French impressionist Claude Monet is Impression, Sunrise. The value of the painting can be determined by the exponential function shown below. v(t)=150(1.2)t

If V(t) represents the value of the painting in dollars and t represents the number of elapsed years since the death of Claude Monet in 1926, which statement is the best interpretation of the meaning of the a and b values from the function in terms of the problem situation?

Group of answer choices

The a value of $150 represents the value of the painting in 1926, and the b value of 1.2 represents that for each elapsed year since 1926, the value of the painting increases by 20%.

The a value of 1.2 represents that for each elapsed year since 1926, the value of the painting increases by 20%, and the b value of $150 represents the value of the painting in 1926.

The a value of $150 represents the value of the painting in 1926, and the b value of 1.2 represents that for each elapsed year since 1926, the value of the painting decreases by 20%.

The a value of $150 represents the value of the painting in 1926, and the b value of 1.2 represents that for each elapsed year since 1926, the value of the painting increases by 120%..​