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Charles Wilson, a professional athlete, currently has a contract that will pay him a large...

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Accounting

Charles Wilson, a professional athlete, currently has a contract that will pay him a large amount in the first year of his contract and smaller amounts thereafter. He and his agent have asked the team to restructure the contract . The team, though reluctant, obliged. Charles and his agent came up with a counteroffer Year Current Contract Team's Offer Counteroffer 1 $ 7,676,000 $3,761,240 $4,989,400 2 $ 3,143,000 $3,300,150 $6,506,010 $2,509,000$ 3,562,780 $3,362,060 $1,836,000$ 3,947,400 $2,827,440

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