please answer & solve

You work for a pharmaceutical company that has developed a new drug. The patent on the drug will last 17 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 4% per year for the next 17 years. Once the patent expires, other pharmaceutical companies will be able to produce the same drug and competition willikely drive profits to zero. What is the present value of the new drug if the interest rate is 7% per year? The present value of the new drug is $ million (Round to three decimal places.) You have an investment account that started with $3,000 10 years ago and which now has grown to $7,000 a. What annual rate of return have you earned (you have made no additional contributions to the account? b. If the savings bond earns 14% per year from now on, what will the account's value be 10 years from now? a. What annual rate of return have you earned (you have made no additional contributions to the account? Your annual rate of return is %. (Round to two decimal places.)