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You are the financial manager for a medical equipment company. Your company has just been awarded a patent on a new medical device. Your company

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You are the financial manager for a medical equipment company. Your company has just been awarded a patent on a new medical device. Your company is ready to go into production. 1 he company s management is requiring that the device be profitable in 3 years. All numbers below are millions: Costs of Development to date: $90 Annual Revenues expected: $30 year 1 $90 year 2 $210 year 3 Annual Expenses expected $25 year 1 $45 year 2 $70 year 3 The company has a required rate of return of 7% on this device. Will the product meet managementA s requirement of being profitable in 3 years

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