A famous quarterback just signed a $10.8 million contract providing $2.7 million a year for 4 years. A less famous receiver signed a $7.0 million 4-year contract providing $3 million now and $2.2 million a year for 4 years.The interest rate is 8%.

a.What is the PV of the quarterback's contract?(Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

b.What is the PV of the receiver's contract?(Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)