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You have just won the lottery and will receive $ 5 1 0 , 0 0 0 in one year. You will receive payments for

You have just won the lottery and will receive $510,000 in one year. You will receive payments for 16 years, and the payments will increase 4 percent per year. If the appropriate discount rate is 12 percent, what is the present value of your winnings?
A. $83,192
B. $4,427,286
C. $14,490,804
D. $14,490,804
E. $4,250,195

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