Present Values with Multiple Cash Flows A top footballer has been signed to a three-year, £10 million contract. The details provide for an immediate cash bonus of £2 million. The player is to receive £2 million in salary at the end of the first year, £3 million the next, and £3 million at the end of the last year. Assuming a 15 per cent discount rate, is this package worth £10 million? If not, how much is it worth?