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What is this contract worth today

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Question - Jodie's Fashions has just signed a $2.2 million contract with a retail chain to license the Jodie Fashion Brand. Under the contract Jodie's will receive $0.6 million immediately, $0.8 million one year from today, and $0.8 million two years from today. What is this contract worth today if the firm can earn 7.2 percent on its money?

Reference no: EM132855835

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