A baseball player is offered a 5 -year contract that pays him the following amounts: Year 1:$1.47 milion Year 2: $1.63 milion Year 3:\$2.17 million Year 4: $2.92 million Year 5:$3.15 milion Under the terms of the agreement all payments are made at the end of each year. Instead of accepting the contract, the basobsli player asks his agent to negotiate a contract that hak a present value of $1.56 million more than that which has been otlered. Moreover, the player wants to recewe his payments in the form of a 5-year ANNUITY DUE. Al cash flows are discounted at 11.00 percent. if the team were to agree to the player's ierins, what would be the player's annual salary (n malions of dollars)? (Express answer in mations. $1,000,000 would be 1.00 ) Answer format: Currency: Round fo: 4 decimal places