In 2021, a baseball player signed a contract worth $60.4 million. The contract called for $11.5 million immediately and a salary of $2.8 million in 2022, $8.1 million in 2023, $11.5 million in 2024, $8.7 million in 2025 and 2026, and $9.1 million in 2027. If the appropriate interest rate is 10 percent, what kind of deal did the player dig out of the dirt? Assume all payments other than the first $11.5 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