A star hockey player has negotiated a contract that pays him $5 million in the first year,

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A star hockey player has negotiated a contract that pays him $5 million in the first year, $7 million in the second year, and $8 million in the third year. If his personal borrowing rate of interest is 8%, calculate the duration of the contract.

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Fundamentals Of Corporate Finance

ISBN: 9781259087585

6th Canadian Edition

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan, Gordon Roberts

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Question Posted: Feb 03, 2020 09:02 AM

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A star hockey player has negotiated a contract that pays him $5 million in the first year,

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For finding the duration of the payment receivable for the next thre...View the full answer

Fundamentals Of Corporate Finance

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