An All-Pro defensive lineman is in contract negotiations. The team has offered the following salary structure:...

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An All-Pro defensive lineman is in contract negotiations. Theteam has offered the following salary structure: Time Salary 0 $7,400,000 1 $ 6,000,000 2 $ 6,500,000 3 $ 7,000,000 4 $ 8,400,000 5$ 9,100,000 6 $ 9,900,000 All salaries are to be paid in lump sums.The player has asked you as his agent to renegotiate the terms. Hewants a $10.9 million signing bonus payable today and a contractvalue increase of $2,900,000. He also wants an equal salary paidevery three months, with the first paycheck three months from now.If the interest rate is 6.4 percent compounded daily, what is theamount of his quarterly check? Assume 365 days in a year. (Do notround intermediate calculations and round your answer to 2 decimalplaces, e.g., 32.16.)

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An All-Pro defensive lineman is in contract negotiations. Theteam has offered the following salary structure: Time Salary 0 $7,400,000 1 $ 6,000,000 2 $ 6,500,000 3 $ 7,000,000 4 $ 8,400,000 5$ 9,100,000 6 $ 9,900,000 All salaries are to be paid in lump sums.The player has asked you as his agent to renegotiate the terms. Hewants a $10.9 million signing bonus payable today and a contractvalue increase of $2,900,000. He also wants an equal salary paidevery three months, with the first paycheck three months from now.If the interest rate is 6.4 percent compounded daily, what is theamount of his quarterly check? Assume 365 days in a year. (Do notround intermediate calculations and round your answer to 2 decimalplaces, e.g., 32.16.)