Ami, a professional soccer player, is offered a 5-year contract that pays him the following amounts: Year 1: $1.2 million Year 2: 1.6 million Year 3: 2.0 million Year 4: 2.4 million Year 5: 2.8...

Ami, a professional soccer player, is offered a 5-year contract that pays him the following amounts:

Year 1:  $1.2 million

Year 2:   1.6 million

Year 3:   2.0 million

Year 4:   2.4 million

Year 5:   2.8 million

Under the terms of the agreement all payments are made at the end of each year.

Instead of accepting the contract, Ami asks his agent to negotiate a contract that has a present value of $1 million more than that which has been offered.  Moreover, Ami wants to receive his payments in the form of a 5-year annuity due.  All cash flows are discounted at 8 percent.  If the team were to agree to Ami’s terms, what would be Ami's annual salary (in millions of dollars)?

(Answer must have step by step explainations.)