Question: Problem 5-20 Annuities (LO3) A famous quarterback just signed a $11.2 million contract providing $2.8 million a year for 4 years. A less famous receiver

Problem 5-20 Annuities (LO3) A famous quarterback just signed a $11.2 million contract providing $2.8 million a year for 4 years. A less famous receiver signed a $9.4 million 4-year contract providing $3 million now and $2.3 million a year for 4 years. The interest rate is 8%. a. What is the PV of the quarterback's contract? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Present value million b. What is the PV of the receiver's contract? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Present value million

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