Present Values with Multiple Cash Flows. has A first-round-draft choice qua rterback been signed to a three-year, $10 million contract. The details provide for an immediate cash bonus of $1 million. The player is to receive $2 million in salary at the end of the first year, $3 million the next, and $4 million at the end of the last year. Assuming a 10 percent discount rate, is this package worth $10 million? How much is it worth? (See Problem 1.) Number of Times Compounded (EAR) Stated Rate (aPR) Effective Rate Semiannually Monthly Weekly Daily 14% 9 8 13