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Suppose that Neil Diamond wants to raise capital for a new venture. To raise the funds, he will sell the rights to his future royalties

Suppose that Neil Diamond wants to raise capital for a new venture. To raise the funds, he will sell the rights to his future royalties to his music catalog. His projected royalties for the end of next year is $20.00 million. These royalties will DECREASE in size by 4% per year going forward. Diamond is offering these"rights" for a 25-year duration. The investment promises an 8% annual percentage return.Based on these assumptions, how much capital can Neil Diamond raise it he sells all his royalties? (round to the nearest million)

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