Please provide steps. I obtained $600,726.84 as my answer but apparently I am incorrect? Thanks for your help.

Planning #8 (similar to): Present Value the annual winning payment at 9% over 22 years. This week option amount. The cash option amount is determined by discounting single winner. What would the cash option payout be? elt ery is worth $4 mln to a The cash option payout would be $0268 (Round to the nearest cent) (Use your financiat calulator or you may use the Financial computing your answer, and round to the nearest cent) in the OK