Alexis Tyler is a star player for the Salt Lake City Lake Monsters and is ranked among the best player in the league. Alexis is wrapping up the "contract year" - the final playing season before a player becomes a free agent. The player has expressed an interest to remain with the Lake Monsters. The team has prepared a contract that would work with their strategic plans and other salary commitments. The offer is for five years of playing with the team. It doesn't include a signing bonus. It offers an annual salary of $3.4 for each of the five years. The contract also includes lump sum deferred compensation of $22 at time 15. What is the present value of the contract offer assuming an interest rate of 5%? Enter your answer to one decimal place.