Page 1 of I The solution to this problem requires time value of money calculations. Reference to Tables 9-1 through 9-4 in the text is necessary to complete the calculations. Winston wins the lottery. He wins $20,000 per year to be paid to him for ten years. The state offers him the choice of a cash settlement now instead of the annual payments for ten years. If the interest rate is 696, what is the amount the state will offer for a settlement today? O a. $175,000 O b. $154,440 O c. $200,000 O d. $147,200 20600 (C.973 52) 20 t