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Your analysis is too basic. Cash bonus of 400,000-600,000 in the fourth round to slightly more than $60,000 in the seventh round. Most 7th rounders are out of the league quick and don’t see all 4 years of the contract. Teams don’t cut 3rd and 4th rounders as quickly.

Now do the number of 3rd rounders who make it to a second contract vs 7th rounder.