Suppose you are the agent for a baseball pitcher. Suppose he is offered the following contract by the Atlanta Braves: a signing bonus of $8,000,000 (to be received immediately), a first year's salary of $7,500,000 (to be received one year from today), a second year's salary of $8,000,000 (to be received two years from today), and a third year's salary of $8,000,000 (to be received three years from today). If the discount rate is 5%, what is the present value of the Braves' contract offer? $29,182,593.67 $29,309,793.76 $28,019,703.72 $30,476,190.48