In 2021, a basketball player signed a contract reported to be worth $55 million. The contract was to be paid as $7.2 million in 2021, $8.9 million in 2022, $9.6 million in 2023, $9.7 million in 2024, $9.7 million in 2025, and $9.9 million in 2026. If the appropriate interest rate is 8 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.