Barack Obama is said to have received a $10 million advance for writing his book "A Promised Land". It took him three years to write the book. During that time he could have been paid to give speeches. Given his popularity, he could have earned $8 million per year (accrued at the end of each year) by giving speeches instead of writing the book. Let us assume that his cost of capital is 10% per year. What is the NPV of this book project in $m? We ignore the payments after the book is completed