In January 1984, Richard "Goose" Gossage signed a contract to play for the San Diego Padres that guaranteed him a minimum total of $10,950,000.00. The guaranteed payments were:
$903,000.00 for 1984
$841,000.00 for 1985
$1,455,000.00 for 1986
$840,000.00 for 1987
$602,000.00 for 1988
$500,000.00 for 1989

In addition, the contract called for $5,809,000.00 in deferred money payable at the rate of $237,000.00 per year from 1990 through 2006 and then $178,000.00 per year from 2007 through 2016. (NOTE: the $ figure given here ($5,809,000.00) is simply the sum of all the remaining annual payments to be made over time.)

If the relevant interest rate is 6 percent APR, compounded annually, and all payments are made on July 1 of each year, what would the present value of these guaranteed payments be on January 1, 1984?