323.3
3.Kevin Brown, a pitcher for the Dodgers, became
baseball's first "$100 million man". His contract called for a $15
million payment upon signing, $10 million in the first year,
and $15 million per year for 6 years after that, adding up to $115
million. Assume that all of his salary payments except for the
signing bonus are paid at the ends of the years. What is the
actual value of his contract if the appropriate discount rate is
10%? (6)