l W _ \"he\"; rem Ron has just been draed by a new start-up professional sports league. He has been in negotiations with the organization over his contract terms. Below are the following deals the organization is offering Ron: (assume all money is guaranteed): . Proposal One - 4-year deal paying $1,000,000 per year - Proposal Two - 10-year deal paying $400,000 per year and increasing 5% per year 1. Determine the total present value of each proposal. For each proposal, assume a discount rate of 8%. Remember step-by-step instructions on how calculate problems similar to this in Excel in the second portion of the 'Chapter 4 Practice Problems Demo.' 2. Based solely on present value, which contract proposal should Ron choose? 3. What other factors beyond present value should Ron consider when making his decision