You and $11$ coworkers just won $$7$ million $($$$583,333\mathrm{.}33$ each$)$ from the state lottery. Assuming you each receive your share over $16$ years and that the state lottery earns a $5$ percent return on its funds, what is the present value of your prize before taxes if you request the $\text{'}$up$-$front cash' option? The present value of your prize before taxes if you request the $\text{'}$up$-$front cash' option is $