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An elderly ice skating clown accidentally slips at the ice rink and breaks his hip. Since the ice rink staff neglected to put a “CAUTION: ICE IS SLIPPERY” sign up, this clown sues and wins a settlement. The judge awards him a settlement of $200,000 that will be paid to the clown in 3 years. What is the present value of that settlement if return rates in today’s market are 7%?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92800295

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