The contract signed in February 2018 by Jimmy Garoppolo that we discussed at the beginning of the chapter was actually p

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The Contract Signed In February 2018 By Jimmy Garoppolo That We Discussed At The Beginning Of The Chapter Was Actually P 1 (29.77 KiB) Viewed 12 times

The contract signed in February 2018 by Jimmy Garoppolo that we discussed at the beginning of the chapter was actually paid as a $35 million signing bonus to be paid immediately and a $7.6 million salary for 2018. The remaining salary was $18.6 million in 2019, $25.2 million in 2020, $25.5 million in 2021, and $25.6 million in 2022. If the appropriate interest rate is 13 percent, what kind of deal did the quarterback toss? Assume all payments other than the first $35 million are paid at the end of each year. (Do not round intermediate calculations and enter your answer in dollars, not millions, rounded to 2 decimal places, e.g., 1,234,567.89.) Present value