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On January 1, you win $60,000,000 in the state lottery. The $60,000,000 prize will be...

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Accounting

On January 1, you win $60,000,000 in the state lottery. The $60,000,000 prize will be paid in equal installments of $6,000,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31 of the current year. If the current interest rate is 10%, determine the present value of your winnings. Use Table 3 and Table 4. Round to the nearest whole dollar. $fill in the blank 1

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