Exercise 11A-6 Basic Present Value Concepts [L011-5] newest millionaire. By choosing the six winning numbers on last week's state lottery, Mr. Ormsby has won the week's grand prize totaling $1.38 million. The State Lottery Commission has indicated that Mr. Ormsby will receive his prize in 20 annual installments of S69,000 each. Click here to view Exhibit 11B-1 and Exhibit 11B-2, to determine the appropriate discount factor(s) using ables. Required: 1. If Mr. Ormsby can invest money at a 11% rate of return, what is the present value of his winnings? (Use the appropriate table to determine the discount factor(s).) Net Present Value Net Present Value Present alueFactor Value