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You and 1 1 coworkers just won $ 1 6 million ( $ 1 , 3 3 3 , 3 3 3 . 3 3

You and 11 coworkers just won $16 million ($1,333,333.33 each) from the state lottery. Assuming you each recieve your share over 19 years and the state lottery earns a 9 percent return on its funds, what is the present value of your prize before taxes if you request the 'up-front cash' option? The present value of your prize before taxes if you request the 'up-front cash' option is $________.(Round your answer to the nearest dollar.)

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