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The $43 million lottery prize that you have just won actually pays out $3.5 million a year for 20 years. The interest rate is 8.0%,

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The $43 million lottery prize that you have just won actually pays out $3.5 million a year for 20 years. The interest rate is 8.0%, a. If the first payment comes after 1 year, what is the present value of your winnings? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) b. What is the present value if the first payment comes immediately? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

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