= Homework: Ch 4 Homework Question 6, P 4-20 (simil. HW Score: 55,56%, 5 of points @ Points of 1 Save 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 drugs pronta wil be $1 milion in the first year and that amount www rate of 4% per year for the next 17 year. Once the potent expires, other pharmaceutical companies will be able to produce the same drug and competition will key drive protesto oro What is the present of the new drug if the interest rate is 11% per your? The present vous of the new drugs $million (Round to three decimal place) Clow AM CA Get More Help - View an Example Help Me Solve This