Exercise $5-5($Algo$)$ Present value; single amount $($LO $5-3)$

The four actors below have just signed a contract to star in a dramatic movie about relationships among hospital doctors. Filming is expected to take two years to complete. Each person signs independent contracts today with the following terms:

$\backslash$table$[[,$Contract Terms$],[,\backslash$table$[[$Contract$],[$Amount$]],\backslash$table$[[$Payment$],[$Date$]]],[$Derek$,$$$430,000,2$ years$],[$Isabel$,470,000,3$ years$],[$Meredith$,370,000,$Today$],[$George$,330,000,1$ year$]]$

Required:

$1-$a$.$ Assuming an annual discount rate of $8\%,$ calculate the present value of the contract amount. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

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