In Exercise 2.4 it tells you that the discount rate is 10%.  Through my studying for the FM exam I know that what they call the discount rate (usually denoted 'd') something different...  d = i / (1+i)

Just for clarification, everytime you talk about the discount rate for homework, tests, etc.  You will be meaning the interest rate used to discount the payments correct?  Just making sure this terminology will not switch back and forth.

I would assume so.  From what I've read/done so far, the point of Corp Fin isn't to go into much detail (definitely not as much as FM).

[NEAS: Correct. The distinction on Exam FM is an actuarial one. Finance people use 1/(1+r).]