can you solve for part c

Lottery. Your dreams of becoming rich have just come true. You have won the State of Tranquility's Lottery. The State offers you two payment plans for the $3,000,000 advertised jackpot. You can take annual payments of $120,000 at the end of the year for the next 25 years or $1,010,609 today. a. If your investment rate over the next 25 years is 12%, which payoff will you choose? b. If your investment rate over the next 25 years is 10%, which payoff will you choose? c. At what investment rate will the annuity stream of $120,000 be the same as the lump-sum payment of $1,010,609? A. Choose the lump-sum payment of $1,010,609 today because its future value is lower. B. Choose the lump-sum payment of $1,010,609 today because its present value is higher. C. Choose the annual payments of $120,000 for the next 25 years because its future value is lower. D. Choose the annual payments of $120,000 for the next 25 years because its present value is higher. b. If your investment rate over the next 25 years is 10%, what is the present value of the $120,000 annual payments today? $ 1089244.81 (Round to the nearest dollar.) Which payoff will you choose? (Select the best response.) A. Choose the lump-sum payment of $1,010,609 today because its future value is lower. B. Choose the annual payments of $120,000 for the next 25 years because its future value is lower. C. Choose the annual payments of $120,000 for the next 25 years because its present value is higher. D. Choose the lump-sum payment of $1,010,609 today because its present value is higher. c. At what investment rate will the annuity stream of $120,000 be the same as the lump-sum payment of $1,010,609? % (Round to two decimal places.)