Garland Inc. offers a new employee a single-sum signing bonus at the date of employment, June 1, 2021. Alternatively, the employee can  receive $49,000 at the date of employment plus $20,000 each June 1 for six years, beginning in 2026. Assuming the employee's time value  of money is 8% annually, what single amount at the employment date would make the options equally desirable?

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present value of an annuity due n 6 i 8 deferred amount 20000 ... View the full answer