A retail shopping center developer signed a contract to build a $100 million high-end shopping center in City Center, because the city and county governments agreed to sales and tax rebates totaling $18.7 million over 10 years. The contract called for the developer to raze existing buildings 2 years from the date the contract was signed and to have the shopping center built by the end of year 3. However, due to a real estate-induced recession in the United States, the developer sought and was granted a new contract. The new contract required the developer to raze the existing buildings at the end of year 1, but the shopping center would not have to be completed for 7 years from the date the contract was signed. Assume that the cost for razing the existing buildings is $1.3 million and the developer does not build the shopping center until 7 years from now (at a cost of $100 million). Determine the difference in the future worth cost in year 7 of the two contracts at an interest rate of 10% per year