Question: (Present value of a complex stream)Don Draper has signed a contract that will pay him $55,000at the end of each year for the next 8

(Present value of a complex stream)Don Draper has signed a contract that will pay him $55,000at the end of each year for the next 8 years, plus an additional $110,000 at the end of year 8.If 11percent is the appropriate discount rate, what is the present value of this contract?

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