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11. Suppose you win a lottery that pays 1 million dollars a year for the next 50 years. You approximate the present value by using

11. Suppose you win a lottery that pays 1 million dollars a year for the next 50 years. You approximate the present value by using the perpetual income equation; assuming the interest rate is going to be 5%, what is that present value of the income stream? 50 million
30million
20 million
25 million

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