In 2021, a baseball player signed a controct worth $60.5 million. The contract called for $10.5 million immediately and a salary of $3.1 million in 2022, $8.7 million in 2023, $10.5 million in 2024, $9 million in 2025 and 2026, and $9.7 million in 2027 . If the appropriate interest rate is 12 percent, what kind of deal did the player dig out of the dirt? Assume all payments other than the first $10.5million are paid at the end of the contract year. Note: Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89