Tom Adams Has Received A Job Offer From A Large Investment Bank As A Clerk To An

annual salary payment one year from the day he begins to work. In addition, he will get an immediate $10,000.00 bonus for joining the company. His salary will grow at 3.5% each year. Each year he will receive a bonus equal to 10% of his salary. Mr. Adams is expected to work for 25years. What is the present value of the offer if the discount rate is 12%?

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