Bobby Bonilla was owed 5.9 million dollars. Mets decided to pay him $29.75 million instead, Payments are made over a 25 year period from 2011 to 2035 (1.19 million every July 1).

Find the discount rate for parity? (what expected future interest rate did The NY Mets & Bobby Bonilla use when establishing this deal. assume that Bobby Bonillas career ended on 7/1/2001. Show work and explain how you got answer)