Homework: Chapter 3 Homework Sav Score: 0 of 1 pt 12 of 17 (13 complete) HW Score: 76.47%, 13 of 17 pts Planning #8 (similar to): Present Value Question Help Present Value Winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over 22 years or as a lump sum cash option amount. The cash option amount is determined by discounting the annual winning payment at 8% over 22 years. This week the lottery is worth $22 milion to a single winner. What would the cash option payout be? The cash option payout would be $(Round to the nearest cont.) (Use your financial calculator or you may use the Financial Tables in condixin computing your answer, and round to the nearest cent) Homework: Chapter 3 Homework Save Score: 0 of 1 pt 12 of 17 (13 complete) HW Score: 76.47%, 13 of 17 pts Planning #8 (similar to): Present Value Question Help Present Value Winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over 22 years or as a lump-sum cash option amount. The cash option amount is determined by discounting the annual winning payment at 8% over 22 years. This week the lottery is worth $22 million to a single winner. What would the cash option payout be? The cash option payout would be $(Round to the nearest cont.) (Use your financial calculator or you may use the Financial Tables in Amendix Cin computing your answer, and round to the nearest cont.)