Lottery. Your dreams of becoming rich have just come true. You have won the State of Tranquility's Lottery. The State offers you two payment plans for the $4,000,000 advertised jackpot. You can take annual payments of $200,000 at the end of the year for the next 20 years or $2,118,803 today. a. If your investment rate over the next 20 years is 9%, which payoff will you choose? b. If your investment rate over the next 20 years is 5%, which payoff will you choose? c. At what investment rate will the annuity stream of $200,000 be the same as the lump-sum payment of $2,118,803? a. If your investment rate over the next 20 years is 9%, what is the present value of the $200,000 annual payments today? $ (Round to the nearest dollar.)