Simplify this expression and put your final answer in Scientific Notation: (5 times 10^6) times (2 times 10^-2). Tell all steps

Step 1: 5 * 2 = 10

Step 2: 10^6 * 10^-2 = 10^(6-2) = 10^4

Final answer: 10^4 = 1.0 x 10^4