X P6-28 (similar to) Question Help 0 Related to Checkpoint 6.2) Present value of annuity payments) The state lottery's million dolar payout provides for $1.1 million to be paid in 20 instaliments of $55.000 per payment. The first $55.000 payment is made immediately, and the 19 remaining 555,000 payments occur at the end of each of the next 19 years. If 12 percent is the discount rate, what is the present value of this stream of cash flow? i 24 percent is the discount rate, what is the present value of the cash Now . 12 percent is the discount role, the present value of the ruly due is Round to the nearest cent.)