You have just won a lottery prize of $1,000,000 collectable in 10 yearly installments of $100,000 starting today. The total present worth of the prize is $665,270. Suppose that you have a large...

Extracted text: You have just won a lottery prize of $1,000,000 collectable in 10 yearly installments of $100,000 starting today. The total present worth of the prize is $665,270. Suppose that you have a large mortgage you want to pay off now. You propose an alternative but equivalent payment scheme. You would like $420,000 today and the balance of the prize in four years when you intend to purchase a large piece of waterfront property. How much will the payment be in four years? Assume that annual interest is 10 percent, compounded monthly. The payment in four years will be $. (Round the final answer to the nearest dollar as needed. Round all intermediate values to six decimal places as needed.)