Present Value of an Annuity On Jenwary 1, you win $2,720,000 in the state lottery. The $2,720,000 prize will be paid in equal instalimente of $340,000 over a veorm. The payments will be made on December 31 of each year, beginning on December 31. If the current interest rate is 5%, determine the present value of your winnings, Use the presenk value tables in Exthibit 7. Round to the nearest whole doltar