You just won the lottery and have elected to receive it in equal payments, starting today and lasting $20$ years $(20$ payments$).$ The value of the lottery is $$2,500,000$ today. If the lottery$$s discount rate is $8\%,$ how much will you receive each year? $($Choose the closest answer.$)$

Selected Answer:

$$254,631$

Answers:

$$254,631$

$$231,093$

$$235,769$

$$125,000$