A noted free agent running back just signed a four-year, 30 -million dollar contract with a new
team.
He will get a 7-million dollar signing bonus and a 4.5 -million dollar roster bonus.
Additionally, he will get 3.25 million for year one, 5.25 million for year two, 5 million for year
three, and 5 million for year four. Salary is paid at the end of the first year. Find the present
value of his contract if money can earn 6%.
A) $15,897,083.78 B) $27,397,083.78
C) $23,911,000.35 D) $30,000,000
B
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How are partial expectation prices converted to conditional expectation prices?
What will be an ideal response?