Question: In 2021, a baseball player signed a contract worth $67.5 million. The contract called for $10.5 million immediately and a salary of $4.1 million in

In 2021, a baseball player signed a contract worth $67.5 million. The contract called for $10.5 million immediately and a salary of $4.1 million in 2022, $10.7 million in 2023, $10.5 million in 2024, $10 million in 2025 and 2026, and $11.7 million in 2027. If the appropriate interest rate is 11 percent, what kind of deal did the player dig out of the dirt? Assume all payments other than the first $10.5 million are paid at the end of the contract year

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