3. value 1.00 points The $89.6 million lottery payment that you just won actually pays $3.2 million per year for 28 years. If the discount rate is 19.50% and the first payment comes in 1 year a. What is the present value of the winnings? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Present value million b. What is the present value of the winnings, if the first payment comes immediately? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Present value million Hints References eBook & Resources Hint #1 Check my work HE o Tin horte 4. value 1.00 points Suppose that you will receive annual payments of $27.750 for a period of 20 years. The first payment will be made 6 years from now. If the interest rate is 5.50%, what is the value of the annuity in year 5, what is the current value of this stream of cash flows? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Value of the Security in Year 5 Value of the Security today $