What is the present value of the athletic department offer

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Reference no: EM131953370

A despised football coach is scheduled to make $945,400.00 per year for the next 8 years. The first payment is scheduled to be made exactly one year from today. After a 3-9 record last year, the athletic department would like to buy out the remaining 8 years of his contract. The athletic department wants to value the remaining years with a 10.00% discount rate. The coach’s agent would like to use 4.00%.

What is the present value of the athletic department offer? What is the present value of the agent’s offer? Round answers to 2 decimal places.

Reference no: EM131953370

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