The four actors below have just signed a contract to star in a dramatic movie about relationships among hospital doctors. Each person signs independent contracts with the following terms:

$\backslash$table$[[,$Contract Terms$],[,\backslash$table$[[$Contract$],[$Amount$]],\backslash$table$[[$Payment$],[$Date$]]],[$Derek$,$$$490,000,2$ years$],[$Isabel$,530,000,3$ years$],[$Meredith$,420,000,$Today$],[$George$,390,000,1$ year$]]$

Required:

$1-$a$.$ Assuming an annual discount rate of $8\%,$ calculate the present value of the contract amount.

$1-$b$.$ Which of the four actors is actually being paid the most?

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Req $1A$

Req $1$B

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 tables, Excel, or a financial calculator. Round your answers to $2$ decimal places.$)$

$\backslash$table$[[,$Presentylualue$],[$Derek$,],[$Isabel$,],[$Meredith$,],[$George$,]]$