David Davis, a professional athlete, currently has a contract that will pay him a large amount in the first year of his contract and smaller amounts thereafter. He and his agent have asked the team to restructure the contract. The team, though reluctant, obliged. David and his agent came up with a counteroffer.

Year		Current Contract		Team's Offer		Counteroffer
1		$7,060,000		$3,459,400		$4,589,000
2		$3,307,000		$3,472,350		$6,845,490
3		$2,623,000		$3,724,660		$3,514,820
4		$1,759,000		$3,781,850		$2,708,860

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What is the present values of Current Contract using a 14 percent discount rate? (Round answer to 2 decimal places, e.g. 15.25. Do not round factor values.)

Present value

$enter the present value rounded to 2 decimal places

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