Problem 6-59 Calculating Annuity Values [L01] An All-Pro defensive lineman is in contract negotiations. The team has offered the following salary structure: Time Salary 0 $%6,000,000 1 $4,600,000 2 5,100,000 3 $%5,600,000 4 $7,000,000 5 7,700,000 6 $8,500,000 All salaries are to be paid in lump sums. The player has asked you as his agent to renegotiate the terms. He wants a $9.5 million signing bonus payable today and a contract value increase of $1,500,000. He also wants an equal salary paid every three months, with the first paycheck three months from now. If the interest rate is 5 percent compounded daily, what is the amount of his quarterly check? Assume 365 days in a year. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Quarterly check amount