Recall Application 2, "Options for a Lottery Winner," to Answer

Recall Application 2, "Options for a Lottery Winner," to answer the following questions:
-According to the application, if the interest rate is exactly 8 percent, then the present value of $1 million per year for the next 20 years is:

A) $13.1 million.
B) $9.8 million.
C) $10.02 million.
D) $8.8 million.