Question
Mr. Rembrandt will receive a commission of $5,000 every year for the next 20 years for a picture he painted. Someone offers him $75,000 right
Mr. Rembrandt will receive a commission of $5,000 every year for the next 20 years for a picture he painted. Someone offers him $75,000 right now for those proceeds. If the discount rate is 10% which should he choose?
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Public Finance and Public Policy
Authors: Jonathan Gruber
5th edition
1464143331, 978-1464143335
