Current Attempt in Progress Martinez Hardy recently rejected a $23,600,000, five-year contract with the Vancouver Seals hockary team. The contract offer called for an immediate signing bonus of $8.850.000 and annual payments of $2,950,000. To sweeten the deal, the president of player personnel for the Seals has now offered a $25,770,000, five-year contract. This contract calls for annual increases and a balloon payment at the end of five years Year 1 $2,950,000 Year 2 3,030,000 Year 3 3.110.000 Year 4 3,190,000 Year 5 3,460,000 Year 5 balloon payment 10.030.000 Total $25.770,000 Click here to view factor tables Suppose you are Handy's agent and you wish to evaluate the two contracts using a required rate of return of 15 percent, in present value terms, how much better is the second contract? (Round present value factor calculations to 4 decimal places eg. 1.2151 and final answers to O decimal places.es 125 Enter negative amounts using either a negative sign preceding the number eg-45 or parentheses es (453) Present value of old contract Present value of new contract In present value terms the second contract is eTextbook and Media than the old one better not be