8. Your least favorite player on your favorite team is in the process of negotiating a buyout for the remainder of his contract. The owner and player agree to a one-time, lump sum buyout of $12 million. However, that money will not be paid to the player until 2 years from today. What is the present value of the buyout if that player could earn an 8% annual return on his money if he would be paid right now and immediately invest that money? (1 point)