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Gabrielle just won $ 2 . 4 million in the state lottery. She is given the option of receiving a of $ 1 , 50

Gabrielle just won $2.4 million in the state lottery. She is given the option of receiving a of $1,500,000 now, or she can elect to receive $40,000 at the end of each of the next 30 years. If Gabrielle can earn 5% annually on her investments, which option should she take?

If Gabrielle takes the prize as an annuity, the present value of the 30 -year ordinary annuity is $, (Round to the nearest dollar.)

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