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You just won the TVM Lottery. You will receive $1 million today plus another 10...

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You just won the TVM Lottery. You will receive $1 million today plus another 10 annual payments that increase by $540,000 per year. Thus, in one year you receive $1.54 million. In two years, you get $2.08 million, and so on. If the appropriate discount rate is 6.4 percent, what is the present value of your winnings? (Do not round intermediate calculations and enter your answer in dollars, not millions, rounded to 2 decimal places, e.g. 1,234,567.89.) Answer is complete but not entirely correct

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