Mr smith signs a five-year endorsement deal with a


Mr. Smith signs a five-year endorsement deal with a prominent sponsor. Under this deal Hyun-Woo will receive $5,000 each year for the first three years and $6,500 each year for the final two years. What is the present value of the total deal if the payments are discounted 6%?

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Financial Management: Mr smith signs a five-year endorsement deal with a
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