Question: In 2 0 2 1 , a baseball player signed a contract worth $ 6 5 . 7 million. The contract called for $ 1

In 2021, a baseball player signed a contract worth $65.7 million. The contract called for $11 million immediately and a salary of $3.7 million in 2022, $9.9 million in 2023, $11 million in 2024, $9.6 million in 2025 and 2026, and $10.9 million in 2027. If the appropriate interest rate is 7 percent, what kind of deal did the player dig out of the dirt? Assume all payments other than the first $11 million are paid at the end of the contract year.
Note: Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g.,1,234,567.89.
Present value
 In 2021, a baseball player signed a contract worth $65.7 million.

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