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Present Value of an Annuity On January 1, 2016, you win $4,400,000 in the state lottery. The $4,400,000 prize will be paid in equal installments of $550,000 over 8 years. The payments will be made on December 31 of each year, beginning on December 31, 2016" If the current interest rate is 6%, determine the present value of your winnings. Use Table 2. Round to the nearest whole dollar