Reconsider study problem 11-30 (Kobe O'Neal), with some different facts. Assume that O'Neal's current contract is worth $16,600,000. He is willing to consider a new contract that is worth $310,000 less. However, under the new contract, he wants an annual salary that is the same each year for four years. What will the annual salary have to be? Assume a discount rate of 7%.