Suppose you are analyzing a company that has a large amount of research and development expenses. You believe that these expenses should be capitalized and use a 5-year amortizable life. You have gathered the R&D expenses in the table below. What is the value of the research asset?

Year R&D Expense -5 $25 Million -4 $35 Million -3 $31 Million -2 $40 Million -1 $45 Million 0 (Current year) $60 Million