I don't think anyone can say for definite what to expect unless he knows age of paper and storage conditions. Assuming your buddy can't remember when he got it,isn't there a code on the box that could be checked with Kodak? Probably quicker and easier is to check for age fogging by cutting a piece of a sheet in two under a safelight and then placing one piece straight into the fixer then wash. Place the second piece into dev, stop and fix and compare colour. If it is age fogged the dev stop and fix piece will look grey compared to the fixed piece. If there is no difference then you are good to go for printing. It is still possible that it not be age fogged but still have lost some of its contrast range but this may or may not be a problem for you.
If it is age-fogged then benzotriazole might help. You can increase the amount in the developer considerably to eliminate the fogging if the first amount doesn't remove fogging.
However if it is more than quite lightly fogged i.e. a very light grey then you will have an uphill struggle to rid it of all its fog.
Some here have had good results with paper that is many years old. I have no idea how good Kodak paper was in terms of resisting age fogging compared to say Ilford, Kentmere or Agfa.
Best of luck
pentaxuser