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You have just won the lottery and have a choice of receiving a lump sum of $1,000,000 or an annuity of $100,000 per year for

You have just won the lottery and have a choice of receiving a lump sum of $1,000,000 or an annuity of $100,000 per year for 15 years. If the appropriate discount rate is 8%, which alternative would you choose?

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