1. One football player is negotiating his contract with the Norwich Football Club, which proposes two deals. Deal A is a 7.5 million 5-year contract according to which all funds will be paid in equal annual end of year instalments. Deal B refers to a 7 million 5-year contract. However, in his case, 2 million will be paid now and only the rest will be paid in equal annual end of year instalments. Assuming that the discount rate is 10% per year, which deal offers a better contract in terms of a higher present value overall?