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Please provide answer to present value of Option A and B. Please solve fraction. You have recently won the super jackpot in the Washington State

Please provide answer to present value of Option A and B. Please solve fraction.

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You have recently won the super jackpot in the Washington State Lottery. After reading the fine print, you discover that you have the following two options: a. You will receive 31 annual payments of $340,000, with the first payment being delivered today. The income will be taxed at a rate of 28 percent. Taxes will be withheld when the checks are issued. b. You will receive $620,000 now, and you will not have to pay taxes on this amount. In addition, beginning one year from today, you will receive $290,000 each year for 30 years. The cash flows from this annuity will be taxed at 28 percent. Using a discount rate of 7 percent, what is the present value of your winnings for each option? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

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