Question: for practice Saved Help Save & Problem 5-38 Annuity Due (LO3) The $70.0 million lottery payment that you have just won actually pays $2.8 million

for practice Saved Help Save & Problem 5-38 Annuity Due (LO3) The $70.0 million lottery payment that you have just won actually pays $2.8 million per year for 25 years. The interest rate is 10%. a. If the first payment comes in 1 year, what is the present value of the winnings? (Do not round intermediate calculations. Enter your answer in millions of dollars rounded to 2 decimal places.) Present value Ices b. What is the present value if the first payment comes immediately? (Do not round intermediate calculations. Enter your answer in millions of dollars rounded to 2 decimal places.) Present value

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