Contract value. A professional hockey player is offered a 5-year contract in which the player receives a $6 million signing bonus today and a quarterly salary starting at $1.2 million paid at the end of the first quarter. The salary grows at 1.2% every quarter. If the discount rate is 6.5%, reported as an annual percentage rate with daily compounding, what is the value of this contract to the player? Assume there are 12 months in a year, each with 30 days. Group of answer choices

a. Between $25.0 million and $25.5 million

b. Between $25.5 million and $26.0 million

c. Between $26.0 million and $26.5 million

d. Between $26.5 million and $27.0 million

e. Between $27.0 million and $27.5 million

f. Between $27.5 million and $28.0 million

g. Between $28.0 million and $28.5 million

h. Between $28.5 million and $29.0 million

i. Between $29.0 million and $29.5 million

j. Between $29.5 million and $30.0 million