Also Part C: Who is better paid? Thank you!

Problem 5-20 Annuities (L03) A famous quarterback just get a new compensation contract, which provides $3.5 million a year for 4 years. A less famous receiver signed a new compensation contract, which provides $3 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