In March 2015, the Kansas City Chiefs signed Jeremy Maclin to a contract reportedly worth $55 million.
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In March 2015, the Kansas City Chiefs signed Jeremy Maclin to a contract reportedly worth $55 million. Maclin's salary (including roster bonus) was to be paid as $3.4 million in 2015, $12.4 million in 2016 and 2017, and $13.4 million in 2018 and 2019. If the appropriate interest rate is 11 percent, what kind of deal did the wide receiver snag? Assume all payments are paid at the end of each year.
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Related Book For 
Essentials of Corporate Finance
ISBN: 978-1259277214
9th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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