Problem:
David Garrard just signed a contract with the Jacksonville Jaguars professional football team worth $60,000,000.00 over 7 years (Assume equal payments). What is the present value of this contract if the appropriate discount rate is 10%?
A. $81,318,608.57
B. $60,000,000.00
C. $41,729,304.15
D. $51,324,651.18
Additional Information:
This question is basically belongs to Finance as well as it is about computations of present value of a the contract by the footballer with a professional football team.