Xian has won the lottery. He has the option of the following two payouts: (a) A lump sum of 1,000,000. (b) A level perpetuity-due with annual payments of 47,619.05. (c) An annuity with 20 payments at the beginning of each year for 20 years. The first payment is P, with each subsequent payment being 10% greater than the previous payment. All payments have the same present value at an annual interest rate of i. Determine P.