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ACC305 Wk 3 Communication Case 6-3 on page 334


ACC305 Wk 3 Communication Case 6-3 on page 334 fin571

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ACC305 Wk 3 Communication Case 6-3 on page 334
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This 0 page Study Guide was uploaded by an elite notetaker on Monday November 9, 2015. The Study Guide belongs to fin571 at Kaplan University taught by in Fall 2015. Since its upload, it has received 18 views.


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Date Created: 11/09/15
Communication Case 63 on page 334 Harvey Alexander an allleague professional football player has just declared free agency Two teams the San Francisco 49ers and the Dallas Cowboys have made Harvey the following offers to obtain his services 49ers 1 million signing bonus payable immediately and an annual salary of 15 million for the veyear term of the contract Cowboys 25 million signing bonus payable immediately and an annual salary of 1 million for the veyear term of the contract With both contracts the annual salary will be paid in one lump sum at the end of the football season Required You have been hired as a consultant to Harvey s agent Phil Marks to evaluate the two contracts Write a short letter to Phil with your recommendation including the method you used to reach your conclusion Assume that Harvey has no preference between the two teams and that the decision will be based entirely on monetary considerations Also assume that Harvey can invest his money and earn an 8 annual return Answer Insert Date Here Dear Phil After careful review of your client Harvey Alexander39s two proposed contracts I recommend you accept the contract from the San Francisco 49ers I came to this conclusion because your client39s decision is based entirely on monetary considerations and he will be investing his money at an expected 8 annual return Thus giving him a present value of 6898065 versus the present value of 6492710 from the Dallas Cowboys My calculations were derived from utilizing the table for the Present Value of an Ordinary Annuity of 1 and were calculated as follows Contract Offer Signing Annual Salary Term of Annual Bonus contract expected return San Francisco 1000000 1500000 5 Years 8 49ers PVA 1500000 annuity amount x 399271 5989065 Present value of an ordinary annuity of 1 n 5 i 8 PV 1000000 Signing Bonus 5989065 PVA 6989065 Contract Offer Signing Annual Salary Term of Annual Bonus contract expected return Dallas Cowboys 2500000 1000000 5 Years 8 PVA 1000000 annuity amount x 399271 3992710 Present value of an ordinary annuity of 1 n 5 i 8 PV 2500000 Signing Bonus 3992710 PVA 6492710 Thank you for hiring me on as your consultant Your Name Here


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