The Caldwell Herald newspaper reported the fallowing storyFrank Ormsby of Caldwell is the state's newest By choosing the six winning numbers on last week's state lotteryOrmsby won the week's grand prize totaling $1.18 millionThe State Lottery Commission indicated that Ormsby will receive his prize in 20 annual installments of $59,000 Click here to view and 148-2to determine the appropriate discount factors) using tables Required Mr. Ormsby can invest money at a rate of return, what is the present value of his winnings? ( Enter your answer in dollars and not in millions of dollars.)