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Please help!! The Great Glant Corp. has a management contract with Its newly hired president. The contract requires a lump sum payment of $25,900,000 be
Please help!!
The Great Glant Corp. has a management contract with Its newly hired president. The contract requires a lump sum payment of $25,900,000 be paid to the president upon the completion of her first 7 years of service. The company wants to set aside an equal amount of funds each year to cover this anticipated cash outflow. The company can earn 6 percent on these funds. How much must the company set aside each year for this purpose? $3,005,371.45 $3.010.616.96 O $1.554,000.00 $3.085.596.97 $1,718.656.69Step by Step Solution
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