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: 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? Complete this question by entering your answers in the tabs below. Assuming an annual discount rate of 8%, calculate the present value of the contract amount. Note:Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places