When it arrives on retail shelves later this year, the next version of Microsoft Office for the Mac will cost between 20 percent to 50 percent less than Office 2008, according to pricing announced by Microsoft Monday.

Microsoft Office 2011 will come in two editions—a Mac Home and Student version and a Mac Home and Business offering—when it ships at the end of October.

Microsoft Office for Mac Home and Student 2011 includes the Word word-processing, PowerPoint presentation, Excel spreadsheet, and Messenger IM applications. It will cost $119 for a single license and $149 for a family pack that allows for installs on three Macs.

More: http://www.macworld.com/article/153084/