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Mike recently signed a professional basketball contract that will pay him the following amount for the next 5 years: One year from today: $13,000,000 Two

Mike recently signed a professional basketball contract that will pay him the following amount for the next 5 years: One year from today: $13,000,000 Two years from today: $22,000,000 Three years from today: $38,000,000 Four years from today: $49,000,000 Five years from today: $26,000,000 If the current discount rate is 11%. What is the value of Mike's contract?

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