The Caldwell Herald newspaper reported the following story: Frank Ormsby of Caldwell is the states newest millionaire. By choosing the six winning numbers on last weeks state lottery, Mr. Ormsby won the weeks grand prize totaling $1.38 million. The State Lottery Commission indicated that Mr. Ormsby will receive his prize in 20 annual installments of $69,000 each. Required: 1. If Mr. Ormsby can invest money at a 11% rate of return, what is the present value