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A despised football coach is scheduled to make $980,500.00 per year for the next 8 years. The first payment is scheduled to be made exactly one year from today. After a 3-9 record last year, the athletic department would like to buy out the remaining 8 years of his contract. The athletic department wants to value the remaining years with a 9.00% discount rate. The coach’s agent would like to use 3.00%.

What is the present value of the athletic department offer?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92792914

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