Let's work through the first contract together. How much is the signing bonus worth today? Right! This isn't a trick question, $938,145 received immediately does not need to be discounted back to the present. Steve And which value from the TVM Annuity table (in the Materials section to the right) would you use to discount the $850,000 paid at the end of Years 1 through 5 to the present? Remember that we are assuming a 10% discount rate