9 of 12 (8 complete) HW Score: 59%, 295 Question Hels The state lottery's million dollar payout provides for $1.1 million to be paid in 20 installments of $55,000 per payment. The first $55,000 payment is made immediately and the 19 remaining percent is the discount rate, what is the present value of this stream of cash flows? If 16 percent is the discount rate, what is the present value of the cash flows? nue is $12.75 (Round to the nearest cent) Final Check Answer P6-28 (similar to) (Related to Checkpoint 6.2) (Present value of annuity payments) The state lottery's million-dollar payout provides for $1.1 million to be paid in 20 installments of $55.000 $55,000 payments occur at the end of each of the next 19 years. If 8 percent is the discount rate, what is the present value of this stream of cash flows? If 16 percent is the de a. If 8 percent is the discount rate, the present value of the annuity due is 5 12.75 (Round to the nearest cent.) 15 Enter your answer in the answer box and then click Check Answer 1 remaining Type here to search