A company gets paid, on product sales one quarter in arrears, the following royalties:
Less than $100M in annual sales: 4.7%
From $100M to $200M: 6.6%
From $200M to $400M: 7.5%
From $400M to $1,500M: 9.4%
More than $1,500M: 9.3%
Sales in a given year are:
Q1: $43M
Q2: $47M
Q3: $55M
Q4: $62M...