A drone manufacturer is interested in continuing business of building mini-drones bidding for the government to build mini-drones.
The company has built the first mini-drone. The data for the first mini-drone is as follows:
Labor hours = 5000
Material cost = $200000
Labor cost = $50 per hour
The company expects a Learning Rate of 50% in building these mini-drones.
Compute total cost of producing the five mini-drones.