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Mehmet signed a contract for 4 0 million dollars. The terms of the contract were $ 4 million immediately, $ 5 . 4 million per

Mehmet signed a contract for 40 million dollars. The terms of the contract were $4 million immediately, $5.4 million per year for the first four years (with the first payment after one year) and $4 million per year for the next four years (with the first payment at year 5). If Mehmets interest rate is 9% per year, what would his contract be worth at the time he signs it?

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