Question: On January 1 , you win $ 5 8 , 0 0 0 , 0 0 0 in the state lottery. The $ 5 8

On January 1, you win $58,000,000 in the state lottery. The $58,000,000 prize will be paid in equal installments of $7,250,000 over 8 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 6%.
Determine the present value of your winnings. Round your answer to the nearest dollar.

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