On January 1, 2014, you win $1,300,000 in the state lottery. The $1,300,000 prize will be paid in equal installments of $130,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31, 2014. If the current interest rate is 5%, determine the present value of your winnings. Use Table 2. Round to the nearest whole dollar.