You and 11 coworkers just won $7 million ($583, 333.33) each from the state lottery. Assuming you each receive your share over 17 years and that the state lottery earns a 5 percent return on itsfunds, what is the present value of your prize before taxes if you request the'up-front cash'option?(Note: Also assume an ordinary annuity payments made at the end of eachperiod.)