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 Derek Isabel Amount $530,000 Payment Date 2 years Meredith George 570,000 465,000 430,000 3 years Today 1 year Required: 1-a. Assuming an annual discount rate of 10%, 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 1B Assuming an annual discount rate of 10%, 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 George Present Value