You are paid a $11$ million advance to write a book. The book took one year to write. In the time you spent writing, you could have been paid to give speeches and appear on TV news as a political commentator. Assume that you could have earned $8$ million over the year $($paid at the end of the year$)$ you spent writing the book.

Assume that once the book is finished, it is expected to generate royalties of $5$ million in the first year $($paid at the end of the year$)$ and these royalties are expected to decrease by $40\%$ per year in perpetuity. Suppose that your cost of capital is $10\%$ and given these royalties payments, what is the NPV of the book deal?