Question 17 of 18 < > Current Attempt in Progress Newman Long has just learned he has won a $513.300 prize in the lottery. The lottery has given him two options for receiving the payments. (1) If Newman takes all the money today, the state and federal governments will deduct taxes at a rate of 47% immediately. (2) Alternatively, the lottery offers Newman a payout of 20 equal payments of $36,900 with the first payment occurring when Newman turns in the winning ticket. Newman will be taxed on each of these payments at a rate of 25% Click here to view factor tables Compute the present value of the cash flows for lump sum payout. (Round factor values to 5 decimal places, eg 1.25124 and final answer to O decimal places, eg. 458,581 Lump sum payout $ Assuming Newman can earn an 9% rate of return (compounded annually) on any money invested during this period. compute the present value of the cash flows for annuity payout. (Round factor values to 5 decimal places, eg. 1.25124 and final answer to O decimal places, eg. 458,581) Present value of annuity payout $