A financier has made a loan of $15 million. The contract for the loan calls for payment of interest quarterly at a nominal annual rate of 8.1%, until the full principal is repaid in one lump sum at the end of 12 years. After 3 years have gone by, immediately after the quarterly payment, the financier decides to sell the asset to an investor. If the investor values these cash flows with a nominal annual rate of 6.9% when compounded quarterly, what value would the investor consider the remaining loan contract to be worth?