Example $9$: Austin, a pet food manufacturer, developed a patented blend of nutritional food for dogs and has licensed its international sales to Pheonix inc. for $25$ years. Under this arrangement, Pheonix inc. will pay a constant payment of $$50,000$ per year for the next $25$ years, beginning one year from now and a single payment of $$1$ million after $25$ years. If a discount rate of $6$ percent is applied, how much is this license deal worth now? Apply the correct formula in cell C$168.$ The output will be negative, but, you have to ignore the negative sign because according to the question, we just need to find the present worth of this deal and this PV will not be actually paid by Austin to Pheonix inc. Thus, we want a positive value, and so we will use $=-$PV$)$ and not $=$PVO.