The quarterback discounts all cash flows at 12%. Which of the three contracts offers the most value? Contract 1; its present value is $4.56 million. Contract 2; its present value is $5.10 million. Contract 3; its present value is $4.20 million. Either Contract 2 or Contract 3; each provides a present value of $5.10 million. Either Contract 1 or Contract 2; each provides a present value of $5.10 million