Related to Solved Problem 3.1B] In 2015, the Washington Nationals baseball team signed pitcher Max Scherzer to a contract to play for them for seven years. He would be paid $15 million dollars per year for 14 years -an additional 7 years beyond the end of the time he would be committed to play for the Nationals. The contract was widely reported as being worth $210 million (or $15 million per yearx 14 years). One baseball writer argued, though, that "this deal serves as a nice reminder that the payment terms of a deal can have an impact on the actual value of the contract." Source: Dave Cameron, "Max Scherzer and When $210 Million Isn't $210 Million," fangraphs.com, January 19, 2015 Which of the following statements best represents the actual value of the contract? 0 A. O B. C. The actual value of the contract is $30 million for each year he plays. Scherzer's contract is worth $210 million on the day he signs it. The actual value of the contract is more than $30 million for each year he plays D. The actual value of the contract is less than $30 million for each year he plays Assume for simplicity that Scherzer receives his $15 million per year salaries for 2018, 2019, and 2020 at the end of each calendar year. The interest rate for this period of time is 7%. The present value of the salaries he will receive for these three years on January 1, 2018 is approximately OA. $36.7 million