7. Jodie's Fashions has just signed a $2.2 million contract. The contract calls for a payment of $600,000 today. 5800,000 one year from today, and $800,000 two years from today. What is this contract worth today if the firm can earn 7.2 percent on its money? 8. Suppose you plan to put $8,000 down on a car today and make payments of $4,000 in each of the next two years, which will pay off the car. If interest rates are 8%, what is the value of your car today? 11