Colin Closer has been playing baseball since he was five years old and has always dreamed of playing in the big leagues. Last season, he was a starting pitcher for a double$-$A $($AA$)-$level baseball team, the Ketchum Baldies; last year, he was the first runner$-$up for the Minor League Player of the Year award. Using his $97$ mph fastball, an impeccable curve ball and slider, and a reliable changeup pitch, he achieved a $17-3$ win$$loss record, an earned run average $($ERA$)$ of $2\mathrm{.}84,$ and $108$ strikeouts in $123\mathrm{.}1$ innings pitched. He is also your best friend.

Two weeks ago, on his three$-$year anniversary with the team, Colin received the following email from his agent, George Get$-$d$$Bucks$,$ indicating that he is being called up to the Boston Back Bay Boys, the Baldies$$s corresponding Major League Baseball $($MLB$)$ team. Moreover, Colin$$s contract is being revised to reflect his new status. The email describes the general terms and conditions of Colin$$s revised contract. $($see pictures$)$

$31.$ Given your worksheet calculations, which of the following statements is accurate? Is George$$s estimate of the value of Colin$$s contract accurate on either a nominal or discounted basis? Check all that apply.

$()$ George$$s estimate of the value of Colin$$s contract is incorrect on a nominal basis, and the error is $$80,389.$

$()$ It is appropriate and necessary to discount the endorsement contract using the bank account$$s effective annual interest rate because of differences in the timing of the compounding of the bank account and that of the payments on the endorsement contract.

$()$ It is appropriate and necessary to discount the performance bonus using the bank account$$s effective annual interest rate because of differences in the timing of the compounding of the bank account and that of the payments for the performance bonus.