Quokka recently won the lottery and has the opportunity to receive $$200,000$ per year at the end of the year for the next $20$ years. Assuming an annual interest rate of $5\%$ is appropriate, the future value is $2\mathrm{.}65330\backslash$times $$200,000=$ $$530,660,$ the present value of an ordinary annuity is $12\mathrm{.}46221\backslash$times $$200,000=$ $$2,492,442,$ and the present value of an annuity due is $13\mathrm{.}08532\backslash$times $$200,000=$ $$2,617,064.$ What is the fair value of the lottery payments according to GAAP?

a$.$ $$530,660$

b$.$ $$2,492,442($ I know this is the correct answer, but where is the $12\mathrm{.}46221$ coming from?

c$.$ $$2,617,064$

d$.$ $$4,000,000$