Present Value of an Annuity On January 1 you win $4,900,000 in the state lottery. The $4,900,000 prize will be paid in equal installments of $490,000 over 10 years. The payments will be made on December 31 o each year, beginning on December 31 . If the arrert interest rate is 8%, determine the present value of your winnings. Use the present value tables in Exhibit 7. Round to the nearest whole dollar