In 2011, Kevin Jones, Texas Tigers quarterback, agreed to an eight‐year, $50 million contract that at the time made him the highest‐paid player in professional football history. The contract included a signing bonus of $11 million and called for annual salaries of $2.5 million in 2011, $1.75 million in 2012, $4.15 million in 2013, $4.90 million in 2014, $5.25 million in 2015, $6.2 million in 2016, $6.75 million in 2017, and $7.5 million in 2018. The $11 million signing bonus was prorated over the course of the contract so that an additional $1.375 million was paid each year over the eight‐year contract period. With the salary paid at the beginning of each season, what is the worth of his contract at an interest rate of 6%?