Contract calls for a payment, Accounting Basics

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Contract calls for a payment

Jodies's fashions has just signed a $2.2 million contract. The contract calls for a payment of $0.6 million today, $0.8 million one year from today, and $0.8 million two years from today. What is this contract worth today if the firm can earn 7.2 percent on its money?

a- $2,038,616.67

b- $2,042,414.79

c- $2,108,001.32

d- $2,124,339.07

e- $2,202,840.91

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Accounting Basics: Contract calls for a payment

Reference No:- TGS068857

Recent Questions Asked Accounting Basics

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Q : Good attention getter comparing and contrasting heroism

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