urgent pleaae iii

Your friend plays the lottery, despite your advice that investing is more valuable. A few days later your friend's father wins the $50 million lottery prize which actually pays out $7.0 million a year for 20 years. The interest rate is 10.0%.

a. If the first payment comes after 1 year, what is the present value of his winnings? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

b. What is the present value if the first payment comes immediately?