Problem 64 Your answer is partially correct. Try again Henry Long has just learned he has won a $511,800 price in the lottery. The lottery has given him two options for receiving the payments. (1) if Henry takes all the money today the state and federal governments will deduct taxes at a rate of 47% Immediately. (2) Alternatively, the lottery offers Henry a payout of 20 equal payments of $42,500 with the first payment occurring when Henry turns in the winning ticket. Henry will be taxed on each of these payments at a rate of 255 Click here to view factores Compute the present value of the cash flows for lump sum payout. (Round factor values to 5 decimal places eg. 1.5124 and inal answer to 0 decimal places, ed. 458,581) Lumpsum payout 271254 Assuming Henry can earn an 11% rate of return (compounded annually) on any money invested during this period, compute the present value of the cash flows for annuity Dayout. (Round factor values to 5 decimal places, e.o. 1.25124 and final answer to o decinal places. e..458,581) Present value of annuity payout Wh v-out option should be choose? Cut Prout Click If you would like to show Work for this question: Qen Sha Wix