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 Contract Terms Derek Isabel Meredith George Contract Amount $420,000 460,000 540,000 320,000 Payment Date 2 years 3 years Today 1 year Required 1-a. Assuming an annual discount rate of 10%, calculate the present value of the contract amount (FV of $1 PV of $1, FVA of 1, and PVAof provided. Round your answers to 2 decimal places.) 1 (Use appropriate factor(s) from the tables Present Value Derek Isabel Meredith George 1-b. Which of the four actors is actually being paid the most? Meredith Derek George Isabel