Question: Present value of an annuity On January 1 , you win $ 4 7 , 2 5 0 , 0 0 0 in the state

Present value of an annuity
On January 1, you win $47,250,000 in the state lottery. The $47,250,000 prize will be paid in equal installments of $5,250,000 over 9 years. The payments will be made on December 31 of each year, beginning on December 31 of this year. If the current interest rate is 4.5%.
Determine the present value of your winnings. Round your answer to the nearest dollar.

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