If you win $$1,000,000$ in the lottery, you don't receive the million all at once, but rather $$50,000$ per year for $20$ years. Ignoring taxes, if interest rates are at $7\%,$ how much is this really worth today? Remember the first payment occurs right away.

$$1,000,000$

$$592,257$

$$529,701$

$$566,780$