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LeBrown Johns just signed a $16 million, nine-year contract with the Cleveland Cavaliers. He today received a signing bonus of $1.5 million and will receive
LeBrown Johns just signed a \$16 million, nine-year contract with the Cleveland Cavaliers. He today received a signing bonus of $1.5 million and will receive $1 million at the end of year 1 of the contract; $3 million at the end of years 2 and 3;$1 million at the end of years 4-8; and $2.5 million at the end of year 9 . LeBrown can earn 6% per year on his money. Referencing the table above and assuming you have calculated the present value of a stream of unequal payments in order to determine the value of LeBrown's contract, what amount should be includford in box " P " of the schedule above? $665.100 LeBrown Johns just signed a $16 million, nine-year contract with the Cleveland Cavaliers. He today received a signing bonus of $1.5 million and will receive $1 million at the end of year 1 of the contract; $3 million at the end of years 2 and 3;$1 million at the end of years 4-8; and $2.5 million at the end of year 9. LeBrown can earn 6% per year on his money. Referencing the table above and assuming you have calculated the present value of a stream of unequal payments in order to determine the value of LeBrown's contract, what amount should be included in box " P " of the schedule above? $665,100$2,670,000$1,503,533$3,370,787
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