Question: Problem 9-18 Present value (LO9-3] Rita Gonzales won the $85 million lottery. She is to receive $2.6 million a year for the next 30 years

Problem 9-18 Present value (LO9-3] Rita Gonzales won the $85 million

Problem 9-18 Present value (LO9-3] Rita Gonzales won the $85 million lottery. She is to receive $2.6 million a year for the next 30 years plus an additional lump sum payment of $7 million after 30 years. The discount rate is 6 percent. What is the current value of her winnings? Use Appendix B and Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods.(Do not round intermediate calculations. Round your final answer to 2 decimal places.) Present value

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