Leave Mikheyev out of this for the moment, because we certainly don't need bottom-6 left-handed forwards with a big cap hit (and he has a M-NTC anyway).

Frankie with retention (who's worth a first plus) and the Boston second for Hronek seems fair, and the Edmonton first plus our second (pick #35) for Hronek seems fair. If you want/need cap relief and insist on getting a better deal, we could take Mikheyev and the San Jose sixth as part of the trade.

Spending a 1st rounder of UFA rights is crazy

The Ducks are better off, keeping their first and Vatrano, signing a UFA with Hronek $$$$ and not taking on cap dump Mikheyev.
No teams should be offering Pesce and Guentzel seven or eight years.

Yeah, I think full retention on Vatrano AND eating Mikheyezs contract is too far a reach for Hronrks RFA rights on top of a first.

I like Hronek, I'll pay for Hronek, but this is an overpay.

Ignoring the Anaheim trade, UFA rights are worth nowhere close to a 1st. At most two 3rds

Or, and call me crazy for this, the Canes just keep Guentzel instead.