A player is set to receive a 10-year growing annuity. She'll earn 1m in year 7, which will grow at 1.5% every year over the next 9 payments. Assuming a market rate of 3.5%, what will be the amount she receives in year 16? (i.e., the payment in last year of her annuity, not the total value of the annuity)

Provide your answer in year 16 pounds () as that is the amount she'll receive in that year.