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Sharon Kabana has won a state lottery and will receive a payment of $87,314.9 every year, starting today, for the next 20 years. If she
Sharon Kabana has won a state lottery and will receive a payment of $87,314.9 every year, starting today, for the next 20 years. If she invests the proceeds at a rate of 8.53 percent, what is the present value of the cash flows that she will receive? (Round intermediate calculations to 4 decimal places, e.g. 1.5212 and final answer to 0 decimal places, e.g. 5275.)
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