On January $1,$ you win $$4,800,000$ in the state lottery. The $$4,800,000$ prize will be paid in equal installments of $$480,000$ over $10$ years. The payments will be made on December $31$ of each year, beginning on December $31$ of this year. If the current interest rate is $7\%,$ determine the present value of your winnings. Use the present value tables in Exhibit $7.$ Round to the nearest whole dollar.

fill in the blank $1$ of $1$$