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An athlete was offered the following contract for the next three years: Year 1 2 3 Cash flows $5 million $7 million $9 million The

An athlete was offered the following contract for the next three years:

Year

1

2

3

Cash flows

$5 million

$7 million

$9 million

The athlete would rather have his salary in equal amounts at the END of each of the three years. If the opportunity cost for the athlete is 10%, what yearly amount would he consider EQUIVALENT to the offered contract? (Round your calculation to the nearest dollar)

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