Michael won the Powerball jackpot of $70$ million dollars. He has two options to collect the cash: $($a$)30-$year annuities $($first payment one year from today$)$ which future value equates the jackpot amount given that the prevailing interest rate is $3\%$ per year; $($b$)$ a single payment now, corresponding to the present value of those $30-$year annuities. Michael has big plans, hence he prefers option $($b$).$ Assuming that there are no taxes, how much money will he be able to collect now? $($note: round your answer to the nearest cent and do not include spaces, currency signs, or commas$)$