Leon Long has just learned he hus wan a $511,300 prize in the lottery. The lottery hus given him two options for recelving the Altematively the lottery offers Leon a payout of 20 equal payments of $37.100 with the first payment occurring when Leon turns in the winning ticket. Lech will be taxed on each of these payments at a rate of 26%. Click here to view factor tables. Lump sumpayout s Assuming Leon can earn an 9% rate of retam (compounded annually) on any money inwested during this period, compute the present value of the cash flows for annuity payout, (Round factor vulues to 5 decimal ploces' es 1.25124 and final answer to 0 decimal places, es 458,581. Present valoe of annuity paryout 5 Which pwrout option should the choose