4.5 A firm has an estimated pension liability of $1.5 million due 27 years from today. If...
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4.5 A firm has an estimated pension liability of $1.5 million due 27 years from today. If the firm can invest in a risk-free security that has a stated annual interest rate of 8 percent, how much must the firm invest today to be able to make the $1.5 million payment?
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Related Book For 
Corporate Finance
ISBN: 9780071229036
6th International Edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
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