A baseball player is offered the following contract today, December 31, 2017: $2 million immediately, $3.40 million in 2018, $2.25 million in 2019, $2.75 million in 2020, and $3.75 million in 2021. Assume all payments other than the first $2 million are paid at the end of the year. If the appropriate discount rate is 8.5% per year, what is the present value of the deal