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 $1,000,000 advertised jackpot. You can take annual payments of $20,000 at the end of the year for the next 50 years or $276,015 today. a. If your investment rate over the next 50 years is 9%, which payoff will you choose? b. If your investment rate over the next 50 years is 6%, which payoff will you choose? c. At what investment rate will the annuity stream of $20,000 be the same as the lump-sum payment of $276,015? a. If your investment rate over the next 50 years is 9%, what is the present value of the $20,000 annual payments today? $(Round to the nearest dollar.) Enter your answer in the answer box and then click Check Answer. ? parts Clear All Check Answer remaining