Exercise C-3 Calculate the present value of a single amount (LOC-2) The four actors below have just signed a contract to star in a dramatic movie about relationships among hospital doctors. Each person signs Independent contracts with the following terms: OK Derek Isabel Meredith George Contract Terms Contract Paynent Amount Date $580,000 2 years 620,000 3 years 490,000 Today 480,000 1 year Required: 1-0. Assuming an annual discount rate of 8%, calculate the present value of the contract amount (EV of 51. PV of 1. EVA of S1, and PVA of 5) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) ences Present Vale Derek Isabel Meredi George 1.b. Which of the four actors is actually being paid the most? Derek Isabel Meredith George