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The four actors below have just signed a contract to star in a dramatic movie...

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Accounting

The four actors below have just signed a contract to star in a dramatic movie about relationships among hospital doctors. Filming is expected to take two years to complete. Each person signs independent contracts today with the following terms:
Contract Terms
Contract Amount Payment Date
Derek $ 600,0002 years
Isabel 640,0003 years
Meredith 500,000 Today
George 500,0001 year
assuming annual discount rate of 9% calculate the present value of the contract amount

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