The Florida lottery pays out winnings, after taxes, on the basis of 20 equal annual installments, providing
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The Florida lottery pays out winnings, after taxes, on the basis of 20 equal annual installments, providing the first installment at the time that the winning ticket is turned in.
a. What type of cash flow pattern is the distribution of lottery winnings?
b. How would you value such winnings?
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Related Book For 
Financial Management And Analysis (Frank J. Fabozzi Series)
ISBN: 9780471477617
2nd Edition
Authors: Frank J. Fabozzi, Pamela P. Peterson
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