Please write out all calculations and steps. Thank you!

Answer each question as detailed as possible. To receive full credit you must provide all calculations. Don't forget to put your name on the copy that you turn in. Remember- CLEAR YOUR CALCULATOR! 1. You just signed a multi-year contract as the quarterback of the returning San Diego Chargers. The San Diego Union Tribune claims that his contract is worth $29.5 million. Having taken an awesome finance class, you claim that this is not true in a present value sense and that you will really be making the following amounts at the end of the next five years: a) Assuming that you can make 7% on his investments, what is the present value of your contract? b) If you wanted to raise the nominal value of his contract to $32 million, while preserving the present value, how would you do it? (You can only adjust the signing bonus and the final year's cash-flow.)