The winner of a lottery is awarded $$7,000,000$ to be paid in annual installments of $$350,000$ for $20$ years. Alternatively, the winner can accept a "cash value" one$-$time payment of $$3,150,000.$ The winner estimates he can earn $7\%$ 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.