The four actors below have just signed a contract to star in a dramatic movie about relates tips among the doctors. Each person signs independent contracts with the following terms: Derek Isabel Meredith George Contract Terms Contract Payment Amount Date $589, eee 2 years 620,000 3 years 49e, eee Today 480,000 1 year Required: 1-a. Assuming an annual discount rate of 8%, calculate the present value of the contract amount. (FV of $1. PV of $1. FVA of $1, and PVA of $1 (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Present Value Derek Isabel Meredith George 1-b. Which of the four actors is actually being paid the most? Derek Isabel O Meredith George