A wealthy philanthropist has established the following endowment for a hospital. The details are as follows: a cash deposit of $7 M one year from now; an annual cash deposit of $2 M per year for the next five years. The first $2 million will start today; at the end of the 5 years, the hospital will also receive a lump sum payment of $16 M. Assuming the cost of money is 4%, what is the value of this endowment in today's dollars? Show your work.