You Have Just Received Notification That You Have Won the $1.4

Multiple Choice

You have just received notification that you have won the $1.4 million first prize in the Centennial Lottery.However,the prize will be awarded on your 100^th birthday,78 years from now.The appropriate discount rate is 8 percent.What is the present value of your winnings?

A) $3,288.16
B) $3,459.99
C) $5,309.91
D) $13,333.33
E) $25,000.00