Kent was offered a job by a Construction Company on a contract basis for a period of 3 years. He was given 2 options: 1) a $75,992 total fee to be received immediately; or 2) $30,000 at the end of 2nd year and $40,000 at the end of the 3rd year, and the first payment is to be negotiated between him and the family

Questions: a. If the interest rate 8%, what is the minimum amount that Kent is willing to negotiate at the end of the first year of the contract? b. If he would disagree with the 2 options and he instead proposed a 3rd choice which is to receive a single oayment at the end of the 1st year only. What amount should be paid to him at that time? 3. Assume he proposed the 3rd choice: receive a single payment at the end of the 2nd year only. What should be paid to him at that time?