A wealthy philanthropist has established the following endowment for a hospital. The details are as follows: a cash deposit of $ 14 M one year from now; an annual cash deposit of $3M per year for the next five years. The first $3M will start today. At the end of 5 years, the hospital will also receive a lump sum payment of $22M. Assuming the cost of money is 5%, what is the value of this endowment in today's dollars? Show your work. (Hint: use a timeline to determine each cash flow)