contract terms
Contract Amount	Payment Date

derek	$410,000	2 years
isabel	450,000	3 years
Meredith	345,000	today
George	310,000	1 year

The four actors below have just signed a contract to star in a dramatic movie about relationships among hospital doctors. Each person signs independent contracts with the following terms: Contract Terms Contract Amount Payment Date Derek $410,000 2 years Isabel 450,000 3 years Meredith 345,000 Today George 310,000 1 year

Required: 1-a. Assuming an annual discount rate of 9%, calculate the present value of the contract amount. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.

	present value
Derek
Isabel
Meredith
George

1-b. Which of the four actors is actually being paid the most

option 1 or option 2.