James just won the lottery and must choose between two payout options. The first is a lump sum of $30 million payable today. The second is 10 annual payments of $3.5 million with the first payment today. What discount rate makes the two options equivalent? Hint: You are solving for the interest rate on an annuity due based on the PV, PMT, and number of payments. Please input your answer as a percentage such that 5.94% would be input as 5 94

James just won the lottery and must choose between two payout options. The first is a lump sum of $30 million payable today. The second is 10 annual payments of $3.5 million with the first payment today. What discount rate makes the two options equivalent? Hint: You are solving for the interest rate on an annuity due based on the PV, PMT, and number of payments. Please input your answer as a percentage such that 5.94% would be innut as 504 James just won the lottery and must choose between two payout options. The first is a lump sum of $30 million payable today. The second is 10 annual payments of $3.5 million with the first payment today. What discount rate makes the two options equivalent? Hint: You are solving for the interest rate on an annuity due based on the PV, PMT, and number of payments. Please input your answer as a percentage such that 5.94% would be innut as 504