You work for a pharmaceutical company that has developed a new drug. The patent on the drug will last 16 years. You expect that the drug's profits will be $2 million in its first year and that this amount will grow at a rate of 5% per year for the next 16 years. Once the patent expires, other pharmaceutical companies will be able to produce the same drug and competition will likely drive profits to zero. What is the present value in millions of dollars) of the profits from the new drug if the interest rate is 8% per year? (Round your answer to two decimal places.)

$ ___ million

How does knowing about supply and demand

The following accounts are denominated in pesos as of december 31, 2015. for reporting purposes, these amounts need to be stated in u.s. dollars. for each balance, indicate the exchange rate that would be used if a translation is made under the current rate method. then, again for each account, provide the exchange rate that would be necessary if a remeasurement is being made using the temporal method. the company was started in 2000. the buildings were acquired in 2002 and the patents in 2003. (round your answers to 2 decimal places.) exchange rates for 1 peso are as follows: 2000 1 peso = $ 0.28 2002 1 = 0.26 2003 1 = 0.25 january 1, 2015 1 = 0.24 april 1, 2015 1 = 0.23 july 1, 2015 1 = 0.22 october 1, 2015 1 = 0.20 december 31, 2015 1 = 0.16 average for 2015 1 = 0.19

*will mark brainliest! * when a company spends resources (labor, money) to give customers "free" items, those costs are called a. investment costs b. economic costs c. scarcity costs d. opportunity costs answer asap!