Question: Contract TermsContract AmountPayment DateDerek$ 5 8 0 , 0 0 0 2 yearsIsabel 6 2 0 , 0 0 0 3 yearsMeredith 4 9 0

Contract TermsContract AmountPayment DateDerek$580,0002 yearsIsabel620,0003 yearsMeredith490,000TodayGeorge480,0001 year
Required:
1-a. Assuming an annual discount rate of 8%, calculate the present value of the contract amount.
1-b. Which of the four actors is actually being paid the most?

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