In 2018, the NBA superstar James Harden signed a new contract with Houston Rockets. The contract has a "total value of $109.32 million. According to the contract, Harden will receive $30.57 million in 2018 (t=0); $38.15 million in 2019(t-1); and $40.60 million in 2020 (t=2). Assume that the interest rate is 8% p.a., the present value of James Harden's new contract at year 2018 (t=0) is '$_ 1) 100.30 million 2) 100.10 million 3) 101.10 million 4) 100.50 million 5) 100.70 million