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A famous quarterback just signed a contract for $8 million, providing $2.7 million a year for 4 years. A less famous receiver signed a contract

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A famous quarterback just signed a contract for $8 million, providing $2.7 million a year for 4 years. A less famous receiver signed a contract for $70 million, 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.) Present value miltion 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? Quarterback Receiver

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