Question: A famous quarterback just signed a $ 1 1 . 2 million contract providing $ 2 . 8 million a year for 4 years. A

A famous quarterback just signed a $11.2 million contract providing $2.8 million a year for 4 years. A less famous receiver signed a $9.4 million 4-year contract providing $3 million now and $2.3 million a year for 4 years. The interest rate is 8%.
a. What is the PV of the quarterback's contract?
Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.
Present value
b. What is the PV of the receiver's contract?
Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.
Present value
million
c. Who is better paid?
Quarterback
Receiver
 A famous quarterback just signed a $11.2 million contract providing $2.8

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