Originally Posted by pauldb
Sorry PhilH, but $42.8m is the present value of an income stream of $3m per annum forever, not one $3m payment. The "today's" value of $3m today is $3m.
You are, of course, completely right
There's nothing quite like trying to be a clever clogs and getting a public shaming of your supposed professional status !!!
Oh dear. What can I say? I did train at Arthur Andersen !!!