You have just won the lottery! You decide to take your winnings as a series of $1,000,000 payments for the next 20 years with the first payment being paid today. What method should we use to value the series of payments?

Select one:

a. Ordinary Annuity

b. Ordinary Perpetuity

c. Compounding Annuity

d. Annuity Due

e. None of these describes how the series of payments should be valued.