urrent Attempt in Progress Leon Lorig has just learned he has won a $508,300 prize in the lottery. The lottery has given him two options for receiving the payments. (1) if Leon takes all the money today, the state and federal governments will deduct taxes at a rate of 46% immediately. (2) Alternatively, the lottery offers Leon a payout of 20 equal payments of $39,600 with the first payment occurring when Leon turns in the winning ticket. Leon will be taxed on each of these payments at a rate of 25% Click here to view factor tables. Compute the present value of the cash flows for lump sum paycout. (Round answer to Odecimal ploces, eg. 458.581) Lump sum payout $ Assuming Leon can earn an 10x rate of return (compenukfed annually) on any monoy invested during this period, compute the present 458,5e1) Present value of anouity payout 5 Assuming Leon can earn an 10% rate of return (compounded annually) on any money invested during this period, compute the present value of the cash flows for annuity payout. (fiound factor values to 5 decimal places, es. 1.25124 and final answer to 0 decimal places, es. 458,581 Present value of annuity payout Which par-out option should he choose