Lottery Your dreams of becoming rich have just come true. You have won the State of Tranquility Lottery. The State offers you two payment plans for the 31.000.000 advertised jackpot. You can take annual payments of $50.000 at the end of the year for the next 20 years or 3490 907 today a. If your investment rate over the next 20 years is 9%, which payoff will you choose? b. Myour investment rate over the next 20 years is 7%, which payoff will you choose? C. At what investment rate will the annuity stream of $50.000 be the same as the lump sur payment of $490.9072 a. your investment rate over the next 20 years is 9%, what is the present value of tho 360.000 annual payments today? (Round to the nearest dollar)