An NBA player signed a mega-million deal paying $6.00 million per year for years 1,2 and 3 of the contract and $8.10 million per year for years 4 and 5. What is the effective value of this deal today if the discount rate is 9.90%?

a.

$25,552,379

b.

$23,727,806

c.

$26,602,270

d.

$24,597,064

e.

$29,024,159