Endorsement deal with a prominent sponsor

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Reference no: EM13872035

Mr. Smith signs a five-year endorsement deal with a prominent sponsor. Under this deal Hyun-Woo will receive $5,000 each year for the first three years and $6,500 each year for the final two years. What is the present value of the total deal if the payments are discounted 6%?

Reference no: EM13872035

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