Leon Long has just learncd he has won a 5511,300 prize in the lottery. The lottery has given him two options for receiving the Ahernatively, the iottery offers Leon a payout of 20 equal payments of $37,100 with the first payment occurring when teon turns in the winning ticket teon will be taxed on each of there payments at a rate of 26% ctidiecto to viow fictor tabies. Compute the present value of the cash flows for lump sum payout. (Round answer to o decimal places, es. 458,581.) Lump sum pureut 5 Assuming Leon can earn an 9% rate of retum (compounded annually) on ainy money invested during this period, compute the present value of the cash nows for annuity payout. (Round factar values to 5 decimal places, es: 1.25124 and final answer to o decimal places, es. 46al sat! Present value of annuity payout Which par out option should he choose