CH6 Q3 B

Jason Allen, a professional athlete, currently has a contract that will pay him a large amount in the first year of his contract and smaller amounts thereafter. He and his agent have asked the team to restructure the contract. The team, though reluctant, obliged. Jason and his agent came up with a counteroffer. What is the present values of Team's Offer using a 14 percent discount rate? (Round answer to 2 decimal places, es. 15.25. Do not round foctor values.) Present value \$