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(Present value of a complex stream) Don Draper has signed a contract that will pay him $60,000 at the end of each year for the

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(Present value of a complex stream) Don Draper has signed a contract that will pay him $60,000 at the end of each year for the next 5 years, plus an additional $110,000 at the end of year 5. If 11 percent is the appropriate discount rate, what is the present value of this contract? The present value of the contract is si (Round to the nearest rent

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