Exercise C-5 (Algo) Calculate the present value of a single amount (LO C-3) 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 Payment Derek Isabel Meredith George Required: Amount Date $430,000 2 years 470,000 370,000 3 years Today 330,000 1 year 1-a. Assuming an annual discount rate of 8%, calculate the present value of the contract amount. 1-b. Which of the four actors is actually being paid the most? Complete this question by entering your answers in the tabs below. Req 1A Req 18 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) (Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places.) Derek Isabel Meredith Present Value