The total cost associated with development and approval for a new prescription drug was estimated to...

 

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The total cost associated with development and approval for a new prescription drug was estimated to be $2.7 million in 2013. Costs are expected to increase 10.0% each year through the year 2020. Find the uniform series equivalent to the given geometric series over the 8 year period with a 6.0% discount rate. (Assume end of year cash flows.) Click here to access the TVM Factor Table calculator. 3.000 million Carry all interim calculations to 5 decimal places and then round your final answer to 3 decimal places. Please enter your answer in millions of dollars. The tolerance is ±0.001. The total cost associated with development and approval for a new prescription drug was estimated to be $2.7 million in 2013. Costs are expected to increase 10.0% each year through the year 2020. Find the uniform series equivalent to the given geometric series over the 8 year period with a 6.0% discount rate. (Assume end of year cash flows.) Click here to access the TVM Factor Table calculator. 3.000 million Carry all interim calculations to 5 decimal places and then round your final answer to 3 decimal places. Please enter your answer in millions of dollars. The tolerance is ±0.001.