The winner of a lottery is awarded $4,000,000 to be paid in annual installments of $200,000 for 20 years. Alternatively, the winner can accept a "cash value" one-time payment of $1,800,000. The winner estimates he can earn 8% annually on the winnings. What is the present value of the installment plan? (Round your answer to two decimal places.) $ Should he choose the one-time payment instead? Yes, he should choose the one-time payment. No, he should not choose the one-time payment