15.

The Atlanta Braves signed an outfielder to a five-year contract. The contract calls for the following cash flows: a signing bonus of $4.00 million today, $12.15 million in year 1, $13.27 million in year 2, $14.18 million in year 3, $15.01 million in year 4, and $16.35 million in year 5. If the outfielder has a discount rate of 7.00% per year, what is the value of his contract today (in millions)? (Express answer in millions. $1,000,000 would be 1.00) . Submit Answer format: Currency: Round to: 2 decimal places