Lorrery. You dreams of becoming rich have ust come true You have won the State of Tranquility's Lattery. The Slate oflers you two payment plans for the $4,000,000 advertised jackpol. You can take annual payments of $160,000 at the end of the year for the next 25 years or $1,452,326 today. a. If your investment rale over the next 25 yoars is 12%, which payoff will you choose? b. If your investmeat rate over the next 25 years is 8%, which paryoff will you choose? c. At what investment rate will the annuity stream of $160,000 be the same as the lump-5um payment of $1,452,326 ? a. If your iavestment rate over the next 25 years is 12%, what is the present value of the $160,000 annual payments loday? (Round to the nearest dollar.)