Tom adams has received a job offer from large investment, Financial Management

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Tom adams has received a job offer from large investment

Tom Adams has received a job offer from a large investment bank as a clerk to an associate banker. His base salary will be $58,000. He will receive his first annual salary payment one year from the day he begins to work. In addition, he will get an immediate $10,000 bonus for joining the company. His salary will grow at 3.8 percent each year. Each year he will receive a bonus equal to 10 percent of his salary. Mr. Adams is expected to work for 25 years.

What is the present value of the offer if the discount rate is 9 percent?

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