You have just received notification that you have won the $3
million first prize in the Centennial Lottery. However, the prize
will be awarded on your 100th birthday (assuming you’re around to
collect), 75 years from now.
What is the present value of your windfall if the appropriate
discount rate is 10 percent? (Do not round
intermediate calculations and round your final answer to 2
decimal places, e.g., 32.16.)