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Problem $5-11$ Calculating Present Values $[$LO$2]$

$8\mathrm{.}33$

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You have just received notification that you have won the $$1$ million first prize in the Centennial Lottery. However, the prize will be awarded on your $100$th birthday $($assuming you're around to collect$),74$ years from now. What is the present value of your windfall if the appropriate discount rate is $9$ percent?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

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$\backslash$table$[[$Present value $,$$$,9,185\mathrm{.}57$