Please use a table when applicable and explain the steps of the solutions. Thank you.

1. On January 1, you win $10,000,000 in the state lottery. The $10,000,000 prize will be paid in equal installments of $1,000,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31 of this year. If the current rate of interest is 4%, determine the present value of your winnings. Use the present value tables.

2. Bullwinkle LLC. produces and sells high-quality sound equipment. To finance its operations, Bullwinkle issued $30,000,000 of five-year bonds, 6% bonds, with interest payable semiannually at a market (effective) interest rate of 8%. Determine the present value of the bonds payable. Round to the nearest dollar.