Present value $)$ The state lottery's million $-$ dollar payout provides for $1$ million $($ s $)$ to be paid over $19$ years in $20$ payments of $ $50,000$ The first $ $50,000$ payment is made immediately $,$ and the $19$ remaining $50,000$ payments occur at the end of each of the next $19$ years If $8$ percent is the appropriate discount rate $,$ what is the present value of this stream of cash flows $?$ If $16$ percent is the appropriate discount rate $,$ what is the present value of the cash flows $?$ is the appropriate discount rate $,$ what is the present value of this stream of cash flows $?$