You and 11 coworkers just won $5 million ($416,666.67 each) from the state lottery. Assuming you each receive your share over 18 years and that 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.)