xercise C$-5($Algo$)$ Calculate the present value of a single amount $($LO C$-3)$

The four actors below have just signed a contract to star in a dramatic movie about relationships among hospital doctors. Each person signs independent contracts with the following terms:

$$

$$Contract TermsContract AmountPayment DateDerek$$590,0002$ yearsIsabel$630,0003$ yearsMeredith$480,000$TodayGeorge$490,0001$ year

$$

Required:

$1-$a$.$ Assuming an annual discount rate of $10\%,$ calculate the present value of the contract amount.

$1-$b$.$ Which of the four actors is actually being paid the most?