Question: Novell Electronics recently bought a patent that will allow it to bring a new product to market in 2_1 years. Sales forecasts indicate that the

Novell Electronics recently bought a patent that will allow it to bring a new product to market in 2_1 years. Sales forecasts indicate that the product will increase the 2 quarterly profits by $28,000. If the patent cost $150,000, how long after the date of the patent purchase will it take for the additional profits to repay the original investment along with a return on investment of 15% compounded quarterly? Assume that the additional profits are received at the end of each quarter.

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