In 2021, a basketball player signed a contract reported to be worth $69.5 million. The contract was to be paid as $9.7 million in 2021, $10.9 million in 2022, $12.1 million in 2023, $12.2 million in 2024, $12.2 million in 2025, and $12.4 million in 2026. If the appropriate interest rate is 13 percent, what kind of deal did the player dunk? Assume all payments are paid at the end of the 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. Present value

In 2021, a basketball player signed a contract reported to be worth $69.5 million. The contract was to be paid as $9.7 million in 2021,$10.9 million in 2022,$12.1 million in 2023,$12.2 million in 2024,$12.2 million in 2025 , and $12.4 million in 2026 . If the appropriate interest rate is 13 percent, what kind of deal did the player dunk? Assume all payments are paid at the end of the 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