Pip Jordan has received contract offers from three professional aquatic basketball teams.

The details are below. Which contract is most valuable?

a. Salary of $900,000 per year for 9 years, starting next year.

b. Salary of $750,000 per year for 9 years, starting next year, plus a $1 million signing bonus, received immediately.

c. $600,000 per year for 4 years, starting next year. In years 5-9, the salary increases to $1,500,000 per year.

The market interest rate is 6% per year.

Which contract is most valuable?