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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: Derek Isabel Meredith George Contract Terms Contract Payment Amount Date $490,000 2 years 530,000 3 years 420,000 Today 390,000 1 year Required: 1-a. Assuming an annual discount rate of 8%, calculate the present value of the contract amount. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Present Value Derek Isabel Meredith George Ray and Rachel are considering the purchase of two deluxe kitchen ovens. The first store offers the two ovens for $1,900 with payment due today. The second store offers the two ovens for $2,100 due in one year. Required: 1-a. Assuming an annual discount rate of 9%, calculate the present value. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Present Value Store 1 Store 2