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Category > Business & Finance Posted 10 Jun 2017 My Price 12.00

The Great Giant Corp. has a management contract

The Great Giant Corp. has a management contract with its newly hired president. The contract requires a lump sum payment of $25,400,000 be paid to the president upon the completion of her first 8 years of service. The company wants to set aside an equal amount of funds each year to cover this anticipated cash outflow. The company can earn 7 percent on these funds. How much must the company set aside each year for this purpose?

$2,401,410.73

$1,778,000.00

$2,475,681.17

$1,962,337.99

$2,406,733.45

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Status NEW Posted 10 Jun 2017 08:06 AM My Price 12.00

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