A pharmaceutical company has already spent 1 million dollars in research for a new drug and now has to make a decision. The company can either terminate the research program or it can move to the development phase. If the company moves to the development phase, it has to invest another 1 million dollars today to start producing and selling the new drug. However, once the company begins producing and selling the new drug, it expects to make 150,000 dollars at the end of each year forever. If the opportunity cost of funds (interest rate) is 10% per year, should the company terminate the program or move to the development phase? Show Work