A famous quarterback just signed a contract for $16 million, providing $3.6 million a year for 4 years. A less famous receiver signed a contract for $15.0 million, providing $3 million now and $3.0 million a year for 4 years. The interest rate is 9%.

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.)

c.Who is better paid?

• Quarterback
• Receiver