2001 was a very good salary year for baseball players. In addition to Alex Rodriguez's contract, Manny Ramirez signed an 8-year contract reported to be worth $160 million. Including a deferred signing bonus, he would receive $16 million in 2001, $18.5 million in 2002, $21 million in 2003, $23.5 million in 2004, $23 million in 2005, $20 million in 2006, $18 million in 2007, and $20 million in 2008. If the appropriate interest rate is 11 percent, what kind of deal did the outfielder catch? Assume the first payment is made immediately, and the next payment occurs in exactly one year.