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 7.78611 8.53020 9.25262 FVAD $1 1.0300 2.0909 3.1836 4.3091 5.4684 6.6625 7.8923 9.1591 10.4639 11.8078 13.1920 6 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) 7 8 9 10 11 1.42576 0.70138 14.1920 9.95400 14.6178 12 13 10.954001 1.46853 0.68095 15.6178 10.63496 16.0863 14 15 16 1.51259 1.55797 1.60471 0.66112 0.64186 0.62317 17.0863 18.5989 20.1569 11.29607 11.93794 12.56110 17.5989 19.1569 20.7616 11.63496 12.29607 12.93794 Shelley wants to cash in her winning lottery ticket. She can either receive six, $199,000 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? $1,110,362. O $938,703. $1,277,021. $1,438,826