Several years ago, a woman won $51 million in the state lottery. To pay off the winner, the state offered five payment plans to the woman. Plan 1 included an immediate payment of $17 million followed by 13 annual payments of $4.2 million. Plan 2 consisted of an immediate payment of $22 million followed by 9 equal annual payments of $4.8 million. Plan 3 included an immediate payment of $1.6 million followed by 11 annual payments, each of which is $0.9 million greater than the previous payment. Plan 4 consisted of an immediate payment of $22 million, followed by three equal annual payments of $11.5 million. Plan 5 involves an immediate payment of $51 million. Part a Recognizing the unequal lives of the various alternatives, determine which plan the woman should select if her MARR is 4% compounded annually. Click here to access the TVM Factor Table calculator. If the MARR is 4%, the greatest PW equals $ million. Carry all interim calculations to 5 decimal places and then round your final answer to two decimal places. Please enter your answer in millions of dollars. The tolerance is 0.01. should be selected. and Media Attempts: 0 of 5 used