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54. A sports team in an effort to solve the salary cap problem has offered a player a contract of $1 million dollars a year
54. A sports team in an effort to solve the salary cap problem has offered a player a contract of $1 million dollars a year for the next season with the payments growing at 7% per year for the next 25 years. The player believes the discount rate for such payments is 13%. What is the value today of taking this contract? A. $12,405,95540 B. $16,666,666.5T C. $834,956.99 D. $5,824,965.76
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