The New York Times headline announced, “Sanchez Angry His Deal Is Worse than Betances’s”. The New York Yankees just signed Gary Sa´nchez to a contract consisting of eight, end-of-year payments worth $9 million each, with the first payment precisely one year from today. On the other hand, Dellin Betances’s recent deal calls for six annual payments of $7 million, starting one year from now and ending six years from now, along with payments of $14 million in 7 years and $17 million in 8 years. Sa´nchez ranted via Twitter, complaining that his contract “is worth a million less than Dellin’s”. If you perform any time-value analysis, use a discount rate of 5%/year. (a) First, how did Sa´nchez get his number of “a million”? (b) Next, use what you’ve learned in this course thus far to shed light on Sa´nchez’s gripe. Indicate whether Sa´nchez is right or wrong, and briefly explain so that he can understand.