Your girlfriend just won the Florida lottery. She has the choice of $17,000,000 today or a 20-year annuity of $1,050,000, with the first payment coming one year from today. What rate of return is built into the annuity?

Select the correct answer.

a. 2.70%

b. 1.50%

c. 2.10%

d. 2.40%

e. 1.80%