You work for a pharmaceutical company that has developed a new drug. The patent on the drug will las 17 years. You expect that the drug's profits will be 55 million in its first year and that this amount will grow at a rate of 5% per year for the next 17 years, Once the patent expires, other pharmaceutical companies will be able to produce the same drugs and competition will likely to drive profits to zero. What is the present value of the new drug if the interest rate is 7% per year? 5100 million 5250 million 568,6014 million 571.4286 million