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A famous quarterback just signed a $13.6 million contract providing $3.4 million a year for...

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Finance

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A famous quarterback just signed a $13.6 million contract providing $3.4 million a year for 4 years. A less famous receiver signed a $14.2 million 4-year contract providing $3 million now and $2.8 million a year for 4 years. The interest rate is 8%. a. What is the PV of the quarterback's contract? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Present value Present value million million b. What is the PV of the receiver's contract? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Present value Present value million million c. Who is better paid? O Quarterback O Receiver

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