Question: Your veteran client is owed $7.5 million for the upcoming 2024 season (Year 0), but the club wants to start a youth movement and buy

Your veteran client is owed $7.5 million for the upcoming 2024 season (Year 0), but the club wants to start a youth movement and buy out several of their older players. They offer your client a deal: he agrees to waive his $7.5 million salary in 2024 in exchange for receiving $1.5 million per year for 15 years, with the first payment starting in 2030. Should your client take this offer? Assume a 9% discount rate and that your client will side with the option with the highest present value. Make sure to provide your final calculated value of the deferred annuity

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