In 1984, Steve, a top college quarterback, signed a $10.4 structured as follows: for the years 1985 through 1990 inclusive, it paid him equal annual upfront payments which totaled $3.9 million. He also received an upfront signing bonus of $500K. The balance of the contract was paid out equally for 30 years (end of year) following the initial series of annual payments. On the other hand Herschel, a star running back, signed a deal which paid him $18 million over four years as follows: 50% upfront with the balance of the contract paid out equally at the end of each year for the duration of the contract. Around the same time Lawrence, a bone crushingtinebacker, received a 4-year, $24 million contract extension which included an upfront signing bonus of $6 million: $1.5 million/year in salary for the duration of the contract and a $300K payment at the beginning of each year for the next 40 years. Assume annual interest compounding, a discount rate of 10% and no taxation impact. Who got offered the better deal and why