what is the present values of team's offer using a 14 percent discount rate?

Paul White, a professional athlete, currently has a contract that will pay him a large amount in the first year of his contract and smaller amounts thereafter. He and his agent have asked the team to restructure the contract. The team, though reluctant, obliged. Paul and his agent came up with a counteroffer. Year 1 2. Current Contract $8,265,000 $3,461,000 $2,675,000 $1,646,000 Team's Offer $4,049,850 $3,634,050 $3,798,500 $3,538.900 Counteroffer $5,372,250 $7,164,270 $3,584,500 $2,534,840 3 4