Jim is a tax attorney, who is an associate in the tax department of the law firm abc represents mr. smith in a matter before the irs. another lawyer from the litigation department of abc, jane, has been approached by paula to sue mr. smith because she was seriously injured when mr. smith's dog attacked her.

Winners of the georgia lotto drawing are given the choice of receiving the winning amount divided equally over 2121 years or as a lump-sum cash option amount. the cash option amount is determined by discounting the annual winning payment at 88% over 2121 years. this week the lottery is worth $1616 million to a single winner. what would the cash option payout be?