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HW Seore: 31 25.5 of 16 points Homework: Chapter 4 Homework Question 6, P 4-29...

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HW Seore: 31 25.5 of 16 points Homework: Chapter 4 Homework Question 6, P 4-29 (simil. Save Points: 0 of 1 You work for a pharmaceutical company that has developed a new drug. The patent on the drug wil Last 17 years. You expect that the drug's prolts will be $1 milion in its frest yest and that this amount wil grow at a rate of Exp year for the next 17 years. Once the patent per, the pharmaceutical companies will be able to produce the same chand competition will likely drive profits to zero. What is the recent value of the new drug the interest ate is 10% year? The present value of the new drugi milion found to three decimal places) CS Scanned with CamScanner

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