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You've been offered a new job--Congratulations! As part of the offer, you get to choose between two different compensation packages. 1). A flat $90,000 per

You've been offered a new job--Congratulations! As part of the offer, you get to choose between two different compensation packages.

1). A flat $90,000 per year paid monthly.

2). $77,000 per year paid monthly with a signing bonus of $20,000 today.

Assume your discount rate is 7% compounded monthly. What is the value of the highest paying option?

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