Pharma Dev develops and markets new technological products to be used in health care. The development of a new product operates as follows. When a new technology meets the requiste market potential, a new patent is filed. Patents are granted for 12 years starting from the date of issue. Once the patent is filed, the new technology is developed at an independent development center an is then launched to the market. On average, Pharma Dev files a new patent every 12 months with a standard deviation 12 months). The average development process lasts 6 months (with a standard deviation of 12 moths). How many years of patent life are left for an average product launched to the market?

a 7.5

b. 8.75

c 10.25

d 12

e 15