According to a news item, the owner of a lottery ticket paying $3 million over 20 years is offering to sell the ticket for $1.2 million cash now. "Who knows?" the ticket owner explained. "We might not even be here in 20 years, and I do not want to leave it to the dinosaurs." Suppose the ticket pays $150,000 per year at the end of each year for the next 20 years, and the appropriate rate for discounting the future income is thought to be 15% The present value of the ticket is approximately True or False: If the discount rate is in the 15% range, the sale price of $948,289 is reasonable (within 10% of the present value of the ticket). True False