Problem $4-11$ Calculating Present Values $[$lO $2]$

You have just received notification that you have won the $$2\mathrm{.}11$ million first prize in the Centennial Lottery. However, the prize will be

awarded on your $100$th birthday $($assuming you're around to collect$),69$ 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 enter your answer in dollars, not millions of dollars, rounded to $2$ decimal

places, e$.$g$.,1,234,567\mathrm{.}89.$

Present value