1. a. Your HS biology teacher had a hobby in botany and you joined her...
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a. Your HS biology teacher had a hobby in botany and you joined her in HS to develop hybrid rose that grows faster, blooms longer and requires little water once cut. Part of your work in HS was to help your Bio teacher get a perpetual patent on the process.
She wrote you last week to say that the patent had been granted, she had licensed the patent to 1800-Flowers, expected to receive $500,000 per year in license fees and, best of all, she was giving you a 1% interest in the license as a reward for all your hard work.
If you forecast interest rates to be 4% going forward, how much is your piece worth?
b. You learned the license fee increased by 2% per year. Now what is it worth?
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