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20 Assume you are selling your company that you operated for the past 10 years....

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20 Assume you are selling your company that you operated for the past 10 years. A potential buyer is interested in your company, but he does not have the necessary capital to pay you a lump sum. Instead, he has offered $700,000 today and annuity payments for the balance. The first payment will be for $180,000 in three months. The payments will increase at 2.3 percent per quarter and a total of 30 quarterly payments will be made. If you require an EAR of 10 percent, how much are you being offered for your company? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) points % 02:04:09 Value of offer

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