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:

	Contract Terms
	Contract Amount	Payment Date
Derek	$400,000	2 years
Isabel	440,000	3 years
Meredith	345,000	Today
George	300,000	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?

	Isabel
	George
	Derek
	Meredith