Calculating Present Values

] You have just received notification that you have won the $2.08 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming youre around to collect), 72 years from now. Required: What is the present value of your windfall if the appropriate discount rate is 9 percent? (Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16). Enter your answer in dollars, not millions, e.g., 1, 234,567.)

Present value $ _________