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need help Present Value. Winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over 22 years or

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Present Value. Winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over 22 years or as a lump-sum cash option amount . The cash option amount is determined by discounting the annual winning payment at 6% over 22 years. This week the lottery is worth $11 million to a Single winner. What would the cash option payout be? The cash option payout would be $(Round to the nearest cent) (Use your financial calculator or you may use the Financial Tables in Appendix Cin computing your answer and round to the nearest cent.)

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