You have won the State Lottery that calls for you to receive $50,000 every six months for 20 years. The State uses a discount rate of 5.7 percent. If you wish to receive a lump sum amount of money today instead of the monthly payment, how much will you receive today?

Group of answer choices

$1,175,456.84

$1,372,917.25

$1,184,283.00

$1,399,512.75

$2,000,000.00