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Congratulations! You just won the lottery for $3.75 million. You are given the option of receiving $1.8 million now or you can receive $150,000 at

Congratulations! You just won the lottery for $3.75 million. You are given the option of receiving $1.8 million now or you can receive $150,000 at the end of every year for 25 years. If you can earn 5% interest on your investments annually, what is the value of the annuity option?

(Round to the nearest cent and do not enter the dollar sign)

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