Exercise $5-5($Algo$)$ Present value; single amount $($LO $5-3)$

The four actors below have just signed a contract to star In a dramatic movie about relationships among hospital doctors. Filming is

expected to take two years to complete. Each person signs Independent contracts today with the following terms:

Required:

$1-$a$.$ Assuming an annual discount rate of $9\%,$ calculate the present value of the contract amount. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and

PVA of $$1)$

$1-$b$.$ Which of the four actors is actually belng pald the most?

Complete this question by entering your answers in the tabs below.

Req $1A$

Assuming an annual discount rate of $9\%,$ calculate the present value of the contract amount.

Note:Use tables, Excel, or a financial calculator. Round your answers to $2$ decimal places.