Present value of an annuity On January 1, you win $40,250,000 in the state lottery. The $40,250,000 prize will be paid in equal installments of $5,750,000 over seven years. The payments will be made on December 31 of each year, beginning on December 31 of this year. The current interest rate is 4.5%. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. X Open spreadsheet Determine the present value of your winnings. Round your answer to the nearest dollar. x Feedback Check My Work to be Review the time value of money concept. Recall that the time value of money concept recognizes that cash received today is worth more than the same amount i received in the future