7.

Problem 4-11 Calculating Present Values [LO 2 You have just received notification that you have won the $2.09 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming you're around to collect), 71 years from now. Required What is the present value of your windfall if the appropriate discount rate is 10 percent? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g. 32.16).) Present value