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1. Ross will inherit a lump sum amount of $1,000,000 that is payable in 7 years. The current rate of return is 6%. What is

1. Ross will inherit a lump sum amount of $1,000,000 that is payable in 7 years. The current rate of return is 6%. What is the present value of the lump sum?

Group of answer choices

$706,162

$796,759

$754,717

$665,057

$491,730

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