The second round MBL draft choice was 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 year, and $4 million at the end of the third year. The discount rate is 10 %. a) Is this contract worth $10 million? b) How much is it worth?