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Use the following information, evaluate the 1998 NHL Lookout. {3} lb} The Levitt report shows NHL revenues at 2.094 billion in 1998, throughout the...

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Use the following information, evaluate the 1998 NHL Lookout. {3} lb} The Levitt report shows NHL revenues at 2.094 billion in 1998,
throughout the lockout, the owners claimed that players were receiving
T5% of the revenue. When the new EBA settled, players revenue was
reduced to 54%. The new contract lasted 6 years long. Using the
information above and assuming an interest rate of 5%, calculate the
owner's gain from this concession. Assume the owners" loss in a season was 335 million, and assume costs of
fan irritation from the lookout is equal to owners“ next best alternative,
calculate the owners’ break-even probability. Explain your results.

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