Save Homework: Chapter 5 Homework an Score: 0 of 2 pts 18 of 18 (5 complete) Problem 5-56 (similar to) N HW Score: 12.5%, 4.5 of 36 pts Question Help 0 (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 550,000 payment is made immediately, and the 19 remaining 550,000 payments occur at the end of each of the next 19 years 8 percent is the appropriate discount rate, what is the present value of this stream of cash flows? W 16 percent is the appropriate discount rate, what is the present value of the cash flows? a. 18 percent is the appropriate discount rate, what is the present value of this stream of cash fows? 5. Round to the nearest cent.)