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A famous quarterback just signed a $11.6 million contract providing $3.5 million a year for 4 years. A less famous receiver signed a $10.6 million

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A famous quarterback just signed a $11.6 million contract providing $3.5 million a year for 4 years. A less famous receiver signed a $10.6 million 4-year contract providing S3 million now and $3.2 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.) Present value million 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.) Present value million c. Who is better paid? Receiver Quarterback

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