Question: Question #3: Present Value [15 Points] Luka Doncic recently signed a 5 year contract with the Dallas Mavericks. The details of the contract is

Question #3: Present Value [15 Points] Luka Doncic recently signed a 5

Question #3: Present Value [15 Points] Luka Doncic recently signed a 5 year contract with the Dallas Mavericks. The details of the contract is that Doncic receives $37.10 million salary this season (2022), a salary of $40.06 million next season (2023), a salary of $43.03 million in two years (2024), a salary of $46.00 million in three years (2025), and a salary of $48.97 million in four years (2026). If the current interest rate is 3.5%, what is the present value of the contract offer signed by Luka Doncic?

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