Novak Hardy recently rejected a $18,400,000, five-year contract with the Vancouver Seals hockey team. The contract offer called for an immediate signing bonus of $6,900,000 and annual payments of $2,300,000. To sweeten the deal, the president of player personnel for the Seals has now offered a $20,180,000, five-year contract. This contract calls for annual increases and a balloon payment at the end of five years. Click here to view factor tables Suppose you are Hardy's agent and you wish to evaluate the two contracts using a required rate of return of 15 percent. In present value terms, how much better is the second contract? (Round present value factor calculations to 4 decimal places, e.g. 1.2151 and final answers to 0 decimal places, e.g. 125. Enter negative amounts using either a negative sign preceding the number e.g. 45 or parentheses e.g. (45).) In present value terms, the second contract is than the old one