Question: Don draper has signed a contract that will pay him $55,000 at the end of each year for the next 6 years, plus an additional

Don draper has signed a contract that will pay him $55,000 at the end of each year for the next 6 years, plus an additional 100,000 at the end of year 6. If 7 percent is the appropriate discount rate, what is the present value of his contract.

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