You and 11 coworkers just won $7 million ($583,333.33 each) from the state lottery. Assuming you each receive your share over 19 years and that the state lottery earns a 7 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

$ enter your response here. (Round your answer to the nearest dollar.)