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The $52.0 million lottery payment that you have just won actually pays $2.6 million per year for 20 years. The interest rate is 8%. a.

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The $52.0 million lottery payment that you have just won actually pays $2.6 million per year for 20 years. The interest rate is 8%. a. If the first payment comes in 1 year, what is the present value of the winnings? (Do not round intermediate calculations. Enter your answer in millions of dollars rounded to 2 decimal places.) Answer is complete but not entirely correct. Present value $ 25,527,183.26 X b. What is the present value if the first payment comes immediately? (Do not round intermediate calculations. Enter your answer in millions of dollars rounded to 2 decimal places.) % Answer is complete but not entirely correct. Present value S 2,756,935.92 X

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