A player just signed a three-year contract with a hockey team. The contract has the following terms: The player will receive $550,000 in the first year, $880,000 in the second year, and $900,000 in the third year. Assume that all payments are made at the end of each year. The interest rate is 8%. What is the present value of this contract? $1,978,166 None of the given choices $2,330,000 $2,136,420