Question: A first-round draft choice quarterback has been signed to a three-year contract. The details provide for an immediate cash bonus (i.e., a signing bonus) of

A first-round draft choice quarterback has been signed to a three-year contract. The details provide for an immediate cash bonus (i.e., a signing bonus) of $1 million. The player is to receive $2 million in salary at the end of the first year, $3 million at the end of the second year, and $4 million at the end of the last year. Assuming a 10 percent discount rate, is this package worth $10 million? How much is it worth today

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