Present and future value tables of $1 at 3% are presented below: N 1 2 3 4 5 FV $1 1.03000 1.06090 1.09273 1.12551 1.15927 1.19405 1.22987 1.26677 1.30477 1.34392 1.38423 PV $1 0.97087 0.94260 0.91514 0.88849 0.86261 0.83748 0.81309 0.78941 0.76642 0.74409 0.72242 FVA $1 1.0000 2.0300 3.0909 4.1836 5.3091 6.4684 7.6625 8.8923 10.1591 11.4639 12.8078 PVA $1 0.97087 1.91347 2.82861 3.71710 4.57971 5.41719 6.23028 7.01969 778611 8.53020 9.25262 FVAD $1 1.0300 20909 3.1836 4.3091 5.4684 6.6625 7.8923 9.1591 10.4639 11.8078 13.1920 PVAD $1 1.00000 1.97087 2.91347 3.82861 4.71710 5.57971 6.41719 7.23028 8.01969 8.78611 9.53020 10.25262 6 7 8 9 10 11 12 1.42576 0.70138 14.1920 14.6178 9.95400 10.95400 13 146853 0.68095 15.6178 16.0863 10.63496 14 15 16 1.51259 1.55797 1.60471 17.0863 18.5989 20.1569 11.63496 12129607 0.66112 0.64186 0.62317 11.29607 11193794 12 56110 17.5989 19,1569 20.7616 12193794 Shelley wants to cash in her winning lottery ticket. She can either receive seven $196.000 semiannual payments starting today or she can receive a lump sum payment now based on a 6% annual interest rate. What is the equivalent lump sum payment