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 $ 1 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 will likely drive profits to zero. what is the present value of the new drug if the interest rate is 10 % per year?

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.