A lottery offers you a choice of $1,000,000 per year for 25 years or a lump-sum payment. What lump-sum payment (rounded to the nearest dollar) would equal the annual payments if the current interest rate is 1.2% compounded annually? (a) State the type amortization present value of an ordinary annuity future value of an ordinary annuity sinking fund none of these (b) Answer the question. (Round your answer to the nearest dollar.)