Problem
GE Marine Systems is planning to supply a Japanese shipbuilder with aero-derivative gasturbines to power 11 DD-class destroyers for the Japanese Self-Defense Force. The buyercan pay the total contract price of $2,100,000 two years from now (when the turbines willbe needed) or an equivalent amount now. At an interest rate of 15% per year, what is theequivalent amount now?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.