Problem
The net revenue for a new product will be $300K this year, and it will grow at 20% per year for 3 years. Then, it will begin dropping by 15% per year. After 7 years, there will be no demand. The first cost to complete design and tooling will be $950K. The interest rate is 10%. What is the present worth of the new product?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.