Question: Please explain step by step. ST Trucking just signed a contract. The contract calls for a payment of $1.1 million one year from today, $1.3

Please explain step by step.

ST Trucking just signed a contract. The contract calls for a payment of $1.1 million one year from today, $1.3 million two years from today, and $1.4 million three years from today. What is this contract worth today at a discount rate of 8.7 percent?

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